FTSE Close: London stocks inch higher despite mixed earnings

Despite economic worries, London equities managed slight gains after a volatile Thursday session.

The FTSE 100 index closed up 53.95 points, or 0.7%, at 7,455.67. The blue-chip index shook off intraday swings and mixed earnings reports to finish in positive territory.

The FTSE 250 ended 191.59 points, or 1.1%, higher at 18,037.85. Meanwhile, the AIM All-Share closed up 0.4%, or 2.58 points, at 704.26.

Top FTSE 100 decliner Flutter Entertainment fell 10%. The gambling firm reported slowing growth and plans to delist from Ireland’s Euronext Dublin exchange. Discount retailer B&M dropped 3.1% despite posting higher first-half profits.

On the upside, Auto Trader jumped 8.5% as the used car marketplace said its first-half profits rose 10%. But pharmaceutical firm Indivior slumped 10% after swinging to a steep quarterly loss.

Hungarian budget airline Wizz Air tumbled 9.8%, downgrading its full-year profit guidance despite returning to profitability in the first half.

The mixed bag of corporate results comes amid lingering worries over further US interest rate hikes and disappointing Chinese economic data.

Still, London’s leading shares managed to shake off the volatility on Thursday, ending the day with modest gains. With central banks focused on cooling inflation, more market swings may emerge ahead.