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* WH Smith slips on grim annual profit forecast
* UK house prices unexpectedly pick up in August -
Nationwide
* Supply chain problems slow UK factory output- IHS Markit
* FTSE 100 up 0.4%, FTSE 250 adds 0.6%
(Updates to close)
By Devik Jain and Amal S
Sept 1 (Reuters) - London's FTSE 100 ended higher on
Wednesday, helped by gains in travel stocks and retailers, while
data showed UK factory activity grew in August at the weakest
rate for six months.
The blue-chip FTSE 100 index climbed 0.4% to have
its best session in three weeks, with travel and leisure stocks
and retailers both up over 1%.
Meanwhile, a survey showed British factory output grew in
August at the weakest rate for six months as supply chain
problems weighed on manufacturers' recovery from the COVID-19
pandemic.
The FTSE 100 has gained 10.6% so far this year, but
continues to lag its European and U.S. peers as a resurgence in
coronavirus cases across the world has sparked concerns of a
slowdown in global economic growth.
"Corporate results are strong, but the COVID crisis is not
over," said Ipek Ozkardeskaya, a senior analyst at Swissquote
Bank, adding the Delta coronavirus variant, global inflation
spikes, and worsening chip and other material shortages would at
some point affect businesses.
"But the markets are on path for more gains. Nobody can tell
how healthy the actual trend is, where it will end, or how it
will end ... but for now, the overall market holds on to its
gains and no one dares saying 'the king is naked'."
The domestically focussed mid-cap index advanced
0.6%, hitting another intraday record high at 24,290.06.
Homebuilders fell 0.1% despite figures from
mortgage lender Nationwide showing British house prices rose by
2.1% month-on-month in August.
Among stocks, WH Smith slipped 3.8% to be the worst
performing stock on the mid-cap index after the retailer
provided a grim annual profit forecast.
JD Sports Fashion rose 3% after Berenberg raised its
price target on the stock of Britain's biggest sportswear
retailer.
(Reporting by Devik Jain and Amal S in Bengaluru
Editing by Subhranshu Sahu and Mark Potter)
