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London stocks track Asian equities higher; BP top drag on weak earnings

Published 02/02/2021, 04:19 PM
Updated 02/02/2021, 04:30 PM
© Reuters.
UK100
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BP
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SSE
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FTMC
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FTNMX301010
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FTNMX303010
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(For a Reuters live blog on U.S., UK and European stock
markets, click LIVE/ or type LIVE/ in a news window)
* FTSE 100 up 0.2%, FTSE 250 adds 0.4%

Feb 2 (Reuters) - London shares tracked gains in Asian
equities on Tuesday, following optimism about economic stimulus
and a global recovery, while oil manufacturing major BP BP.L
dropped after reporting weak earnings.
The blue-chip FTSE 100 index .FTSE rose 0.2%, with
insurers .FTNMX8570 and banks .FTNMX8350 leading the gains,
while the mid-cap index .FTMC added 0.4%.
BP fell 3.4% to the bottom of the FTSE 100 as profit in the
last quarter of 2020 sunk to $115 million due to weak energy
demand, with fuel consumption continuing to slide so far this
year due to tightening travel restrictions. Asian stock markets gained for a second day, ahead of
negotiations between U.S. President Joe Biden and Republican
senators on a new COVID-19 support bill. MKTS/GLOB
British power producer SSE Plc SSE.L rose 0.3% after
saying it has appointed banks to explore options for the sale of
all or some of its stake in Scotia Gas Networks
(SGN). Meanwhile, to curb the spread of a new and highly-infectious
South African variant of the novel coronavirus, Britain has
begun door-to-door testing of 80,000 people.

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