The London markets inched higher, reflecting positive investor confidence regarding the US stimulus package. FTSE 100 traded marginally higher by around 0.12% after the strengthening of the pound. Bellway shares went up by around 2.97% after it had reported robust demand for new homes benefitted by the low-interest rates and temporary stamp duty cut. The Company had delivered a significant rise in its order book.
Micro Focus International shares jumped by around 6.57% after it announced FY20 results today. The Company had reinstated its dividend. However, the pre-tax loss had widened amid Covid-19 pandemic. Ocado Group stock dropped by around 1.68% after the company announced its FY20 results today. It had reported 35% revenue growth for Ocado Retail boosted by the increasing demand for home delivery. The CEO pointed out that the food retailing landscape is stepping towards a transformation. The Chairman of JD Sports Fashion PLC unveiled its plan to build a distribution center within the European Union to avoid paying post Brexit tariffs and assist in creating more jobs. Shares of JD Sports Fashion dropped by over 2.30%.