FTSE 100 closes up 0.83%, boosted by strong results from Unilever and Man Group

Earnings
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Summary · why it matters

The London stock market closed higher on Tuesday, with the FTSE 100 index ending at 10,871.02 points, up 89.27 points or 0.83%, supported by consumer goods stocks that rose on strong earnings. Unilever led the gains, surging 8.58%, its biggest daily jump in four years, after the company raised its full-year outlook and reported its strongest quarterly volume growth in over a decade. Man Group shares hit their highest level since 2010 during the session before paring gains, after reporting a larger-than-expected increase in assets under management for the first half. Energy stocks fell 1.43%, the most among sectors, as oil prices dropped on hopes of easing tensions between the US and Iran. Banking stocks declined 1.37%, with Barclays sliding 4.79% despite reporting first-half profit above expectations, suggesting investors may have already priced in the positive news.

Impact on stocks 3

Financials± Mixed · 2 stocks
Man Group PLC
EMG
▲ PositiveCapitalrelevance

Man Group reported a larger-than-expected increase in assets under management for the first half, sending shares to their highest since 2010.

Barclays PLC
BARC
▼ NegativeCapitalrelevance

Barclays slid 4.79% despite reporting first-half profit above expectations, suggesting the positive news was already priced in.

Consumer Staples · 1 stocks
Unilever PLC
UNLYD
▲ PositiveCapitalrelevance

Unilever raised its full-year outlook and reported strongest quarterly volume growth in over a decade, driving shares up 8.58%.