The financial sector lit up the FTSE 100 after a report of international bid interest in Standard Chartered, which sent shares in the emerging markets lender up by around 20%. First Abu Dhabi bank said it was no longer evaluating a possible takeover.
Shares in retailers have surged after Next and B&M lifted their annual profits guidance in Christmas trading updates.
Next’s full-price sales growth of 4.8% in the nine weeks to 30 December was some £66 million better than the company’s previous guidance that sales would fall 2%.
Despite the cost of living crisis and the impact of weather and strikes, bakery chain Greggs also reported that fourth quarter like-for-like sales grew by 18.2% on a year earlier.
