UPDATE 2-UK blue chips end higher as telecoms group BT surges on stake buy


Warning: This material has been prepared by a third party company, Reuters, which is independent of Davy. Davy has not reviewed the material and accepts no responsibility for errors or omissions, or for the information or opinions contained therein. It does not constitute investment advice.

 (For a Reuters live blog on U.S., UK and European stock
markets, click LIVE/ or type LIVE/ in a news window)
    * AstraZeneca, pharma stocks lead gains
    * Investors shrug off spike in U.S. inflation
    * BT tops FTSE 100 after Altice takes 12% stake
    * FTSE 100 up 0.1%, FTSE 250 down 0.7%

 (Updates to close)
    By Sagarika Jaisinghani and Sruthi Shankar
    June 10 (Reuters) - Britain's blue-chip index closed
slightly higher on Thursday, aided by gains in telecoms group BT
and pharma majors, while doubts over the UK's reopening plans
later this month hurt the domestically focused mid-cap index.
    Shares in BT Group  BT.L  jumped 6.6% to hit their highest
since January 2020 after telecoms billionaire Patrick Drahi's
Altice Group  ATUS.N  bought a 12.1% stake worth about 2.2
billion pounds ($3.1 billion), making it the largest
shareholder.  urn:newsml:reuters.com:*:nL5N2NS14R
    "Altice is an established name in the telecoms space and the
purchase of a 12% holding in BT is a significant move," said AJ
Bell investment director Russ Mould.
    "It has been said for years that UK assets are cheap and
2021 is proving to be the year when investors finally put their
money where their mouth is."
    The export-heavy FTSE 100  .FTSE  ended the day up 0.1%,
also boosted by drugmakers AstraZeneca  AZN.L  and
GlaxoSmithKline  GSK.L .
    Global stocks remained buoyant, with Wall Street's S&P 500
 .SPX  reaching a record high as investors took to the view that
a spike in May consumer prices was probably not enough to drive
an early policy tightening by the Federal Reserve.  urn:newsml:reuters.com:*:nL2N2NR2Q5
    The European Central Bank also pledged to keep monetary
policy loose despite lifting its growth and inflation
projections for the euro zone.  urn:newsml:reuters.com:*:nL2N2NS0FH
    Stocks more exposed to the domestic economy took a hit, with
the UK's mid-cap index  .FTMC  falling 0.7% in its third session
of losses amid doubts over a full reopening of the country on
June 21 as coronavirus cases pick-up again.  urn:newsml:reuters.com:*:nL5N2NQ4S2
    Meanwhile, Britain and the European Union failed to agree on
solutions to post-Brexit trade problems in Northern Ireland this
week, with the two sides exchanging threats, including
imposition of tariffs and quotas.  urn:newsml:reuters.com:*:nL2N2NR0LW 
    Among other stocks, facilities management provider Mitie
 MTO.L  jumped 5.9% as it predicted its full-year profit would
beat current market estimates.  urn:newsml:reuters.com:*:nL3N2NS1H4
    Online trading platform CMC Markets  CMCX.L  rose 1.7% as it
said annual profits had more than doubled.  urn:newsml:reuters.com:*:nL3N2NS1G9

 (Reporting by Sagarika Jaisinghani in Bengaluru; editing by
Uttaresh.V and Mark Heinrich)
 ((Sagarika.Jaisinghani@thomsonreuters.com; within U.S. +1 646
223 8780; outside U.S. +91 80 6182 2256;))
For related prices, Reuters users may click on - * 
 UK stock report      .L     
 FTSE index:          0#.FTS6  
 techMARK 100 index:  .FTT1X          FTSE futures:      0#FFI:  
 Gilt futures:        0#FLG:          Smallcap index:     .FTSC  
 FTSE 250 index:      .FTMC           FTSE 350 index:     .FTLC  
 Market digest:       .AD.L           Top 10 by vol:      .AV.L  
 Top price gainers:   .NG.L           Top % gainers:      .PG.L  
 Top price losers:    .NL.L           Top % losers:       .PL.L  
 * For related news, click on - *
 UK hot stocks:       HOT  and  GB      Wall Street:           .N 
 Gilts report:        GB/             Euro bond report  GVD/EUR 
 Pan European stock report:  .EU 
 Tokyo stocks:        .T              HK stocks:            .HK 
 Sterling report:     GBP/            Dollar report:       USD/ 
 * For company prices, click on - *
 Company directory:   UKEQ           By sector:           FTAX  
 * For pan-European market data, click on - *
 European Equities speed guide................  EUR/EQUITY  
 FTSE Eurotop 300 index...........................  .FTEU3  
 DJ STOXX index...................................  .STOXX  
 Top 10 STOXX sectors........................  .PGL.STOXXS  
 Top 10 EUROSTOXX sectors...................  .PGL.STOXXES  
 Top 10 Eurotop 300 sectors..................  .PGL.FTEU3S  
 Top 25 European pct gainers....................  .PG.PEUR  
 Top 25 European pct losers.....................  .PL.PEUR ))

Warning: This content may be provided by regulated and unregulated entities and is not created, reviewed or endorsed by Davy. It is provided for general information purposes only and does not constitute a recommendation or solicitation to purchase or sell any security or make any other type of investment or investment decision. Importantly, it does not constitute investment advice, as it does not contemplate the personal circumstances of any particular person or group of persons. Neither Davy nor the providers of the Third Party Content will be liable for any investment decision made based on the reliance on or use of such data, or any liability that may arise due to delays or interruptions in the delivery of the Third Party Content for any reason.