- UK stocks finished higher on Tuesday, boosted as Chancellor Rishi Sunak announced the extension of the government's furlough scheme until the end of October and after investors warmed to better-than-expected updates from Vodafone, Morrisons and Kingfisher.

At 16.35, the benchmark FTSE 100 closed up 55.04 points, or 0.93%, at 5,994.77.


Vodafone gained 8.8% to 122.9p as the telecom giant booked a rise in adjusted full-year earnings in line with its guidance and held its dividend steady at 9p per share.

Vodafone also warned of a weaker earnings performance in the current financial year, citing the Covid-19 crisis.

Supermarket group Morrisons was marked up 3.2% to 195p, even as its first-quarter sales fell 4.0% owing to a slump in fuel demand. The fall was limited by a 5.7% surge in ex-fuel sales, as households stockpiled on groceries during the Covid-19 crisis and avoided eating out.

DIY chain Kingfisher rallied 9.7% to 178.25p despite its first-quarter sales falling 24%.

E-commerce, however, proved a bright spot for Kingfisher, with sales up fourfold since mid-March.

Budget carrier Ryanair ascended 2.9% to 9.12c on announcing that it planned to return to 40% of normal flight schedules from the beginning of July.

Ryanair said the plan was subject to government restrictions on intra-EU flights being lifted, and effective public health measures being put in place at airports.

Wealth manager Standard Life Aberdeen gained 4.3% to 223.9p, even as it experienced £24bn of outflows from its funds in the first four months of the year.

Standard Life Aberdeen also said its commitment to pay a 2019 final dividend was backed by its capital strength.

Property company Land Securities plunged 12.5% to 553.2p after it scrapped its final dividend amid widening losses.

Metrology and healthcare technology group Renishaw firmed 1.85% to £38.46, despite its profits slumping 77% in the first nine months of its financial year.

Renishaw said it expected its numbers for the fourth quarter to look better, thanks to cost cutting and foreign exchange gains.


Online electrical retailer AO World sparked up 7.7% to 92.2p on news of increased sales and market share gains since COVID-19 lockdown measures went into effect.

Fishing equipment retailer Angling Direct jumped 9.7% to 65p as it reiterated its annual guidance and said momentum in online sales had continued in May after a 24% increase in April.

Angling Direct also touted progress on plans to re-open its stores.

Retirement home developer McCarthy & Stone fell 4.3% to 69.7p on announcing that chief financial officer Rowan Baker had stood down to take up the same position at Laing O'Rourke.

Baker would be replaced by Martin Abell, who was previously CFO of pharmaceutical and services company Clinigen.

FRP Advisory surged 9.8% higher to 128.5p on the back of a strong full year trading update, news the corporate restructuring and finance services specialist still intends to pay a final dividend, as well as bullish commentary from broker Cenkos.

Story provided by