The U.K.'s postal delivery service was outshining the FTSE 100 on Thursday, after Royal Mail reported better-than-expected results.
The U.K.’s postal delivery service was outshining the FTSE 100 index on Thursday, after Royal Mail reported better-than-expected results, with home builders also rising, though energy companies were tugging at the downside as oil prices fell.
The FTSE 100 index UKX, -0.55% dipped 0.2% to 7,629, losing around 1% for the week so far, which would be its worst week since mid-September. Weakness for the main index has come as the pound has gained around 0.5%, after stronger-than-expected inflation and jobs data have bolstered expectations for a U.K. interest rate increase next month.Royal Mail RMG, +8.
“With large parts of the world having become more accustomed to buying goods online since the start of the pandemic, it’s fair to say 2021 will be the second ‘digital Christmas’ in a row. It’s so much easier to order goods online than venture to the high street and the system requires companies like Royal Mail to help deliver these items to the customer’s doorstep,” said AJ Bell investment director Russ Mould.
A number of home builder shares were on the rise Thursday also, with Persimmon PSN, +4.72%, Berkeley Group BKG, +3.98%, Barratt Developments BDEV, +3.97%, Taylor Wimpey TW, +3.92% and Land Securities LAND, +3.21% all up 4% or more. Energy companies were under pressure as oil prices CL00, BRN00, remained sluggish. Royal Dutch Shell RDSA, -2.45% RDS.A, -1.70% and BP BP, -2.30% BP, -1.66% were down 2% each.
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