London close: Benchmark holds onto gains amid lockdown easing concerns

(Sharecast News) - London's benchmark managed to hold on to its gains by the close on Tuesday, underpinned by well-received updates from the likes of Vodafone and Morrisons, as investors continued to mull the implications of lockdown easing at home and abroad.
The FTSE 100 ended the session up 0.93% at 5,994.77, while the FTSE 250 slipped 0.61% to 16,173.04.

Sterling, meanwhile, was weaker against both of its major trading pairs, last falling 0.32% against the dollar to $1.2296 and sliding 0.8% on the euro to €1.1323.

Despite the positive tone on the main board, IG analyst Chris Beauchamp said sentiment remained cautious as investors watched the situation in China, where the number of new cases of coronavirus was once again rising.

"Western economies currently taking small steps towards re-opening and ending lockdowns will be examining the performance of China, just as they monitored its virus containment efforts, in the uncomfortable knowledge that they face the same challenges in bringing their economies back to some semblance of normality," he said.

"For Europe, the test case is Germany, and with infections there on the rise investors fret that there is more economic pain to come as restrictions return."

In equity markets, telecommunications giant Vodafone pushed 8.33% higher after it confirmed its dividend but pulled guidance for 2021 due to coronavirus uncertainties as full year core earnings rose 2.6% to €14.9bn.

Standard Life Aberdeen was up 3.91% as it said estimated assets under management and administration as at 30 April stood at ?490bn, with estimated net outflows in the first four months of the year of around ?24bn.

Morrisons gained 3.36% after keeping its dividend options on hold as the supermarket group reported an increase in like-for-like sales for the first quarter fuelled by the Covid-19 crisis.

B&Q and Screwfix owner Kingfisher surged 9.57% after it posted a 24% decline in first-quarter sales, taking a hit from the coronavirus lockdown, but added that sales improved at the start of May as stores reopened.

Elsewhere, retailer Marks & Spencer was boosted 6.71% by an upgrade to 'overweight' at Morgan Stanley.

On the downside, property developer Land Securities slid 12.75% after pulling its final dividend as full-year losses widened and asset values fell.

British Land was also on the back foot by 10.33%.

Luxury car maker Aston Martin Lagonda was knocked 11.74% lower by a downgrade to 'reduce' from 'hold' at Peel Hunt.

Market Movers

FTSE 100 (UKX) 5,994.77 0.93%
FTSE 250 (MCX) 16,173.04 -0.61%
techMARK (TASX) 3,685.41 1.70%

FTSE 100 - Risers

Vodafone Group (VOD) 122.88p 8.74%
Ocado Group (OCDO) 2,056.00p 7.39%
Pennon Group (PNN) 1,151.50p 4.21%
Imperial Brands (IMB) 1,696.00p 4.08%
SSE (SSE) 1,292.00p 4.07%
Standard Life Aberdeen (SLA) 223.10p 3.91%
Associated British Foods (ABF) 1,789.50p 3.74%
Tesco (TSCO) 246.70p 3.61%
Morrison (Wm) Supermarkets (MRW) 195.15p 3.36%
British American Tobacco (BATS) 3,152.00p 3.31%

FTSE 100 - Fallers

Land Securities Group (LAND) 551.80p -12.75%
British Land Company (BLND) 343.90p -10.33%
Whitbread (WTB) 2,675.00p -5.74%
Barratt Developments (BDEV) 491.70p -3.59%
Taylor Wimpey (TW.) 145.85p -3.19%
Informa (INF) 418.00p -2.99%
SEGRO (SGRO) 815.20p -2.70%
ITV (ITV) 72.28p -2.46%
Experian (EXPN) 2,498.00p -2.27%
Polymetal International (POLY) 1,621.00p -2.23%

FTSE 250 - Risers

Kingfisher (KGF) 178.00p 9.57%
Marks & Spencer Group (MKS) 92.96p 6.17%
Fisher (James) & Sons (FSJ) 1,284.00p 4.73%
JPMorgan Indian Investment Trust (JII) 504.00p 4.35%
Pollen Street Secured Lending (PSSL) 642.00p 4.22%
TP ICAP (TCAP) 372.00p 4.20%
PZ Cussons (PZC) 186.40p 4.13%
Serco Group (SRP) 135.00p 4.09%
PayPoint (PAY) 774.00p 4.03%
Bank of Georgia Group (BGEO) 920.00p 3.95%

FTSE 250 - Fallers

Hyve Group (HYVE) 13.48p -17.80%
Hammerson (HMSO) 45.04p -13.62%
Aston Martin Lagonda Global Holdings (AML) 38.04p -11.74%
Bakkavor Group (BAKK) 72.00p -10.00%
Beazley (BEZ) 351.40p -8.15%
Convatec Group (CTEC) 203.80p -7.03%
Pets at Home Group (PETS) 235.80p -6.80%
Forterra (FORT) 212.00p -6.65%
WH Smith (SMWH) 899.00p -6.55%
Diploma (DPLM) 1,726.00p -6.20%