Bunzl, Associated British Foods up after results
RollsRoyce top of FTSE 100 after price target raise
FTSE 100 up 0.8, FTSE 250 adds 0.4

Feb 27 Reuters The UK39;s FTSE 100 rose on Monday after upbeat earnings reports from Associated British Foods and Bunzl helped pull the index up from last week39;s battering on worries about high U.S. interest rates.

The bluechip FTSE 100 rose 0.8, after recording its worst weekly performance so far this year as hotterthanexpected U.S. consumer spending data on Friday sparked a selloff on both sides of the Atlantic.

Bunzl gained 1.8 after the business supplies distributor raised its annual dividend and reported a higher fullyear profit.

Primark owner Associated British Foods climbed 1.3 after raising its outlook for the full year 202223 for the clothing retailer.

RollsRoyce rose for the third straight day, adding 4.5 to the top of the FTSE 100 as Jefferies raised its price target on the jet engine maker39;s stock after it reported higher profits last week.

The market really sold off on Friday around jitters that the Federal Reserve is going to hike a lot more than markets were expecting, said Patrick Armstrong, chief investment officer at Plurimi Wealth.

That39;s actually not terrible news for Europe as it generally created a bit of weakness in the sterling, that39;s really good news for the multinationals.

The FTSE 100 has had a stellar start to the year so far, rising 6.4 as strong earnings and a steady rise in commodity…