StockMarketWire.com - UK stocks made up some lost ground at the open on Wednesday after retailers Boohoo and Fevertree pleased investors with some rare good corporate news amid the Covid-19 storm.

At 0821, the benchmark FTSE 100 index was up 52.69 points, or 0.9%, at 5.693.72.

Online retailer Boohoo rose 3.5% to 280.93p after bumper sales underpinned a 54% rise in its annual profit.

Boohoo said its outlook remained cautious, though added that its performance had improved in recent weeks following a slump that had started in the middle of March.

Drink mixer retailer Fevertree gained 2.2% to £13.95 after it pledged to pay a final dividend for 2019, while touting its £128.3m of cash holdings.

Fevertree's confidence in its balance sheet came even as it reported a relatively modest fall in annual profit, owing to lower sales in the UK offsetting growth in the US.

Insurance company Hiscox added 0.7% to 803.2p, even as it estimated up to $150m of claims related to Covid-19 lockdowns, should restrictions on travel and mass gatherings stay in place for six months from the end of March.

Hiscox also noted that it had a substantial catastrophe reinsurance programme and robust capital, liquidity and funding positions.

Polling and data company YouGov rallied 7.6% to 635p, having reported a 13% rise in first-half profit, buoyed by further growth in the US market.

Suit retailer Moss Bros plunged 41% to 12p after Brigadier Acquisition moved let its £22.6m bid for the company lapse.

Belegured fashion house Ted Baker reversed 3.5% to 136.4p, even as it announced that it had appointed EasyJet chairman John Barton to head its board. Barton would remain chairman of EasyJet.

Student accommodation developer Unite added 0.5% to 775p, on guiding for its income for the 2019-to-2020 academic year to fall by a lower-than-expected 16-20%.

United had offered students the option to leave their lodgings in the wake of the Covid-19 crisis.

Wind farm investor The Renewable Infrastructure Group shed 1.6% to 122.81p despite it reaffirming its dividend guidance for the year.

The company, however, also cut its power price forecasts due to the Covid-19 crisis.

Marketing services group XLMedia sank 19% to 19.88p on swinging to a full-year loss after it wrotedown the value of its assets following the demotion of its casino websites by Google.

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