London markets continue to rise as big company names rule the roost

FTSE 100 added to Monday’s strong gains helped by a welter of earnings statements from some of the market’s big names. London’s blue-chip index rose 27 points to 7,109 in early trading.

BP PLC (LSE:BP) led the way as it lifted its second-quarter dividend even though profits were lower than the previous three months. The oil major is also continuing its transition efforts with renewable energy projects.

Standard Chartered PLC (LSE:STAN) expects income to be flat this year with an uneven recovery from COVID-19 across its markets. The bank is restarting dividend payments and share buybacks.

Greggs PLC (LSE:GRG) expects full-year profit to be slightly ahead of forecasts as trading continues to improve. The baker also swung to an interim profit and resumed launching new products with a series of vegan ranges.

Allergy Therapeutics announced a favourable outcome of a test of its peanut allergy vaccine candidate, “VLP Peanut”. The study, which took place at Imperial College London, aimed to demonstrate the vaccine candidate does not elicit an allergic reaction in patients upon dosing.

Genel Energy PLC raised its interim dividend after strong cash generation from its operations in Northern Iraq. The group produced 32,760 barrels of oil per day net in the first half of 2021, slightly higher than the same period last year.

Belvoir Group PLC (AIM:BLV)  said revenue in the six months to the end of June was up 41% on the same period of 2020, when trading was hit by lockdown restrictions. The lettings specialist added that revenue was also well above this time in 2019.

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