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July 23, 2021, 9:46 a.m. EDT

Vodafone and miners support FTSE 100, as investors sift through mixed data

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By Barbara Kollmeyer

London stocks were set to scrape out a gain out for the week, helped by miners and Vodafone, as investors sifted through a mixed set of economic data on Friday.

The FTSE 100 /zigman2/quotes/210598409/delayed UK:UKX +0.25% rose 0.7% to 7,020.73, on track for a weekly gain of barely 0.2%. Fresh data included U.K. retail sales, which rose a surprise 0.5%, against expectations for a modest decline.

“While there are questions around high-street retail demand despite government steps to reopen the economy, the saving grace appears to have come from football fans who drove up alcohol and food sales for the euro 2020 tournament,” said Joshua Mahony, senior market analyst at IG, in a note to clients.

“Restrictions limiting pubs to tables of six pushed many to watch the tournament at home, and with England’s final three games of the tournament falling in July it is likely we will see a similar boost next month,” he said.

The news was less cheery for the IHS Markit flash July composite purchasing managers index, which came in at a four-month low of 57.7 from 62.2 in June.

“July saw the U.K. economy’s recent growth spurt stifled by the rising wave of virus infections, which subdued customer demand, disrupted supply chains and caused widespread staff shortages, and cast a darkening shadow over the outlook,” said Chris Williamson, chief business economist at IHS Markit, in a press release.

Mahony said with Covid cases rising, there are concerns the U.K. economy could see pressure as individuals are told to quarantine.

The U.K. government  announced plans to test food-industry workers daily  for COVID-19 to prevent shortages, and allow them to keep working even after contact with infected individuals. But a sharp rise in infections and notifications telling individuals to stay home has led to shortages of food and gas in parts of the country.

Among stocks on the move, shares of Vodafone /zigman2/quotes/202862751/composite VOD +0.06% /zigman2/quotes/202484985/delayed UK:VOD -0.09% rose more than 2% after reporting a rise in revenue in the first quarter of fiscal 2022, after a hit caused by the pandemic, and said it’s on track to meet full-year expectations.

Mining stocks were contributing to gains, with shares of Rio Tinto /zigman2/quotes/208934945/delayed UK:RIO +2.01% /zigman2/quotes/202627887/composite RIO +1.44% , BHP Group /zigman2/quotes/208108397/composite BHP +1.27% /zigman2/quotes/203323256/delayed UK:BHP +2.83% , Glencore /zigman2/quotes/201400686/delayed UK:GLEN +1.34% and Anglo American /zigman2/quotes/201381512/delayed UK:AAL +2.01% all up by 1% or more.

/zigman2/quotes/210598409/delayed
UK : FTSE UK
7,222.82
+18.27 +0.25%
Volume: 496,731
Oct. 25, 2021 4:58p
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/zigman2/quotes/202862751/composite
US : U.S.: Nasdaq
$ 15.49
+0.01 +0.06%
Volume: 2.51M
Oct. 25, 2021 4:00p
P/E Ratio
N/A
Dividend Yield
6.80%
Market Cap
$41.88 billion
Rev. per Employee
$486,182
loading...
/zigman2/quotes/202484985/delayed
UK : U.K.: London
110.72 p
-0.10 -0.09%
Volume: 38.68M
Oct. 25, 2021 4:35p
P/E Ratio
582.74
Dividend Yield
7.06%
Market Cap
£30.41 billion
Rev. per Employee
£372,306
loading...
/zigman2/quotes/208934945/delayed
UK : U.K.: London
4,766.50 p
+94.00 +2.01%
Volume: 2.27M
Oct. 25, 2021 4:35p
P/E Ratio
5.62
Dividend Yield
13.13%
Market Cap
£77.43 billion
Rev. per Employee
£732,787
loading...
/zigman2/quotes/202627887/composite
US : U.S.: NYSE
$ 66.83
+0.95 +1.44%
Volume: 2.46M
Oct. 25, 2021 4:00p
P/E Ratio
5.84
Dividend Yield
10.24%
Market Cap
$106.65 billion
Rev. per Employee
$939,693
loading...
/zigman2/quotes/208108397/composite
US : U.S.: NYSE
$ 57.44
+0.72 +1.27%
Volume: 3.04M
Oct. 25, 2021 4:00p
P/E Ratio
13.16
Dividend Yield
10.48%
Market Cap
$139.62 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/203323256/delayed
UK : U.K.: London
1,996.00 p
+55.00 +2.83%
Volume: 4.05M
Oct. 25, 2021 4:35p
P/E Ratio
12.16
Dividend Yield
10.89%
Market Cap
£101.38 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/201400686/delayed
UK : U.K.: London
371.90 p
+4.90 +1.34%
Volume: 19.56M
Oct. 25, 2021 4:35p
P/E Ratio
34.03
Dividend Yield
2.35%
Market Cap
£48.29 billion
Rev. per Employee
£765,499
loading...
/zigman2/quotes/201381512/delayed
UK : U.K.: London
2,812.50 p
+55.50 +2.01%
Volume: 1.65M
Oct. 25, 2021 4:35p
P/E Ratio
7.09
Dividend Yield
6.24%
Market Cap
£33.84 billion
Rev. per Employee
£253,662
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