London stocks inch higher, pub operator Mitchells jumps after results

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The London Stock Exchange Group offices are seen in the City of London, Britain, December 29, 2017. REUTERS/Toby Melville/File Photo

  • FTSE 100 up 0.2%, FTSE 250 adds 0.3%

Nov 25 (Reuters) – UK shares crept up for a fourth session on Thursday after an extended rally in mining stocks and a jump in pub group Mitchells offset losses as certain heavyweight stocks traded ex-dividend.

The blue-chip index (.FTSE) gained 0.2% by 0814 GMT, with the industrial metal and mining index (.FTNMX551020) rising as iron ore prices rallied on hopes of rebound in Chinese demand.

However, gains in the index were held back by near 4% declines in Vodafone (VOD.L) and Imperial Brands (IMB.L) as they traded without entitlement for dividend.

Mitchells & Butlers (MAB.L) jumped 5.9% after it reported like-for-like sales in recent months that exceeded pre-pandemic levels but warned that rising costs, supply chain issues and labour shortages since Brexit will “inevitably” have an impact on its performance in the current year. read more

Topping the mid-cap index (.FTMC), Vivo Energy (VVO.L) surged 18.9% on news that commodities trader Vitol will buy the company in a deal valued at roughly $2.3 billion. read more

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Reporting by Sruthi Shankar in Bengaluru; Editing by Shailesh Kuber

Our Standards: The Thomson Reuters Trust Principles.