The FTSE 100 closed the session 1.40% higher at 7,635.09 points. A brighter economic outlook, "helped by a rising oil price, strong U.S. personal spending, home sales rising the most in three years and a weaker-than-expected PCE index, the Fed's preferred inflation gauge," was behind the daily jump, IG analyst Axel Rudolph writes in a market comment. London's blue-chip index rose to a two-week high and recorded its biggest weekly gain since September, CMC Markets UK analyst Michael Hewson notes, attributing the rise to a broad-based rebound from its heaviest stocks.


COMPANIES NEWS:

WH Smith Revenue Rose on Strong U.K. Performance

WH Smith said revenue rose on a particularly strong performance in the U.K.

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Wickes Group Sees Adjusted Profit Meeting High End of Market Views

Wickes Group said it expects adjusted profit for last year to have reached the upper end of market forecasts, with broadly flat like-for-like sales.

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Paragon Banking Group Performance in Line With Expectations

Paragon Banking Group said that first-quarter performance has been in line with the board's expectations, and reiterated its full-year guidance.

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Superdry Sees Challenging Conditions Ahead After Sales Deteriorate; CFO to Step Down

Superdry warned that it expects the market to remain challenging and unpredictable after posting a revenue drop for the first half of fiscal 2024, and said its chief financial officer will step down.

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Avon Protection Revenue Rose; Backs Guidance

Avon Protection said revenue, its order book and order intake rose, and backed its full-year guidance.

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On the Beach Total Transaction Value Rises; Sees Adjusted Pretax Profit in Line With Views

On the Beach Group said year-to-date total transaction value rose, and that it sees adjusted pretax profit for fiscal 2024 in line with current market expectations.

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S4 Capital Starts GBP2.7 Mln To Share Buyback Program

S4 Capital said that it has started a share buyback program for an initial 2.7 million pounds ($3.4 million) from its available cash reserves.

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Remy Cointreau, European Drinks Stocks Jump After Outlook Reassures

Remy Cointreau shares jumped, sending stocks in European peers like Diageo, Pernod Ricard and Davide Campari-Milano higher, after analysts said the outlook of the French drinks maker offers relief to investors.

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Vodafone U.K., Three Merger to Be Probed by U.K. Regulator

The U.K. Competition and Markets Authority started a formal investigation into Vodafone U.K.'s merger agreement with Three U.K.


MARKET TALK:

Wickes' Guidance for Top End of Profit Views is No Mean Feat

1155 GMT - Wickes is performing creditably despite the now-slowing pandemic-driven boom in home improvements: in a difficult market, to guide for profit at the top end of expectations is no mean feat, AJ Bell says. Notably, the home-improvement retailer did flag a decline in "do-it-for-me" sales as opposed to DIY--in fairness some slippage can be attributed to new software implementation and the company's messaging remains fairly bullish, AJ Bell investment director Russ Mould says in a research note. "A pickup in the property market, of which there are nascent signs thanks to the improved affordability of mortgages, will be supportive to Wickes as people tend to do up their homes to sell or look to change their new place to their own tastes," Mould says. Shares are up 6.7% at 154.6 pence. (joseph.hoppe@wsj.com)


Contact: London NewsPlus, Dow Jones Newswires;


(END) Dow Jones Newswires

01-26-24 1211ET