BUSINESS CLOSE: FTSE climbs 1.5% as it shrugs off Omicron; Ashtead keeps growing; Paragon posts record profits; BAT boost
The FTSE 100 has ended the day 1.5 per cent higher at 7339.9, while the FTSE 250 climbed 1.6 per cent to 23,238.2 as markets shrugged off Omicron concerns.
Shares in equipment rental firm Ashtead rose today as it lifted its expectations for the full year after reporting a ‘record’ performance in its first half.
London-listed Paragon Banking has posted a record annual profit on the back of strong demand from professional landlords for buy-to-let properties, which drove a near 30 per cent jump in mortgage lending.
The lender’s statutory pre-tax profits for the 12 months to 30 September rose 80.5 per cent to £213.7million from £118.4million a year ago.
Meanwhile, British American Tobacco said it had lured more new customers to take up its e-cigarettes, heated tobacco and oral nicotine products in the first three quarters of the year than in the whole of 2020.
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With debts of more than £300billion, Evergrande has been struggling to meet repayments since September. Much of the money is owed to firms outside China