FTSE 100 up 0.6, FTSE 250 adds 1.3
Construction and materials stocks lead broader gains
InterContinental Hotels Group jumps after higher Q2 revenue per available room

Aug 6 Reuters London stocks rebounded on Tuesday, tracking gains across broader markets, a day after recession fears in the United States triggered a brutal selloff across markets, while a slew of positive corporate earnings also helped boost the recovery.

By 0710 GMT, the bluechip FTSE 100 index was up 0.6, after logging its worst fall in more than a year on Monday.

The midcap FTSE 250 index added 1.3. It fell to its lowest level in over three months in the previous session.

Weaker U.S. data in the last week stoked recession fears in the world39;s biggest economy, pushing investors to safehaven assets amid a selloff that battered markets globally.

However, Monday39;s data showing a rebound from fouryear lows in U.S. services sector activity in July, alongside comments from Fed policymakers that partially soothed investors and helped scale back some losses.

In London, travel and leisure shares were among the top gainers, rising 1.9. InterContinental Hotels Group advanced 2.8 after the Holiday Innowner reported a 3.2 rise in revenue per available room RevPAR in the second quarter.

Construction and materials shares gained 2.4, lifted by a 13.4 rise in Keller Group after it reported its halfyearly results. The stock topped the FTSE 250 index.

Heavyweight banks gained 1. A check from the Band of…

Leave A Comment