FTSE 100 Climbs As BP Profits Surge
(RTTNews) - U.K. stocks advanced on Tuesday, as BP plc reported higher-than-expected earnings for the fourth quarter of 2021 and data showed U.K. retail sales grew at a stronger pace in January due to the easing of lockdown restrictions.
Like-for-like sales grew 8.1 percent in January from the previous year, data from the British Retail Consortium and KPMG showed. At the same time, overall sales increased 11.9 percent on a yearly basis in January.
The benchmark FTSE 100 rose 45 points, or 0.6 percent, 7,619 after climbing 0.8 percent the previous day.
BP rose 1.5 percent. The energy giant boosted share buybacks after delivering a big rise in fourth-quarter profit.
Higher commodity prices helped lift miners, with Anglo American, Antofagasta and Glencore rallying 3-4 percent.
Energy company SSE added 1.4 percent after raising its annual earnings outlook.
Retailer Ocado Group plunged 11 percent after its annual loss widened.
