London open: UK stocks rise ahead of data, but Thorntons plummets

UK stocks jumped again on Tuesday as the pre-Christmas rally continued, with markets extending a two-week high ahead of a barrage of economic data.

London’s FTSE 100 was up 0.6% at 6,618 early on, rising for the sixth straight session. The index closed at 6,576.74 on Monday, its highest finish since 8 December.

The positive start followed a bullish session on Wall Street, with the S&P 500 rising to its 50th record close so far this year.

While trading volumes are expected to be low and corporate news lacking, there will be plenty of data to keep those traders which remain at their desks busy.

“As we head into the last full trading day before Christmas we have a data deluge to contend with,” said CMC Markets analyst Michael Hewson.

The final estimate of UK gross domestic product (GDP) is forecast to confirm that year-on-year growth was 3% in the third quarter. Meanwhile, US GDP is also out but is expected to be revised to show 4.3% annualised growth in the third quarter, up from the previous estimate of 3.9%.

US durable goods, consumer confidence, new home sales and personal spending figures are also on tap for Tuesday afternoon.

Thorntons plummets after profit warning

Annual profits will be lower than expected at Thorntons as the confectioner warned of a "significant reduction" in orders from major supermarkets and a problem with its warehouse distribution. The stock was around 26% lower after the retailer said earnings for the full year were to be "below those achieved for the last financial year”.

Outsourcing company Capita gained after appointing Halma’s boss Andrew Williams to its board as an independent non-executive director.

Resource stocks were among the worst performers early on, with BG Group, BHP Billiton and Anglo American trading lower.

Supermarket rivals Tesco, J Sainsbury and Wm Morrison were providing a lift.

Market Movers
techMARK 2,972.32 +0.43%
FTSE 100 6,618.14 +0.63%
FTSE 250 16,036.19 +0.28%

FTSE 100 - Risers
Tesco (TSCO) 184.75p +2.07%
CRH (CRH) 1,540.00p +1.85%
ARM Holdings (ARM) 992.00p +1.69%
TUI AG Reg Shs (Post- 16/12/14)(DI) (TUIJ) 1,055.00p +1.64%
Weir Group (WEIR) 1,904.00p +1.60%
WPP (WPP) 1,362.00p +1.49%
Morrison (Wm) Supermarkets (MRW) 178.60p +1.48%
Legal & General Group (LGEN) 248.60p +1.43%
Aviva (AV.) 498.30p +1.22%
Babcock International Group (BAB) 1,082.00p +1.22%

FTSE 100 - Fallers
BG Group (BG.) 874.90p -1.26%
Reckitt Benckiser Group (RB.) 5,275.00p -0.66%
GKN (GKN) 343.90p -0.61%
BHP Billiton (BLT) 1,362.00p -0.44%
United Utilities Group (UU.) 928.00p -0.27%
Marks & Spencer Group (MKS) 479.80p -0.21%
Severn Trent (SVT) 2,035.00p -0.15%
SSE (SSE) 1,617.00p -0.12%
Anglo American (AAL) 1,173.00p -0.04%
Sainsbury (J) (SBRY) 239.50p -0.04%

FTSE 250 - Risers
Zoopla Property Group (WI) (ZPLA) 207.30p +3.55%
Afren (AFR) 50.70p +2.65%
Premier Oil (PMO) 170.20p +2.53%
SSP Group (SSPG) 286.60p +2.28%
Amec Foster Wheeler (AMFW) 891.00p +2.18%
Petrofac Ltd. (PFC) 716.50p +1.70%
Serco Group (SRP) 159.10p +1.60%
Cairn Energy (CNE) 177.80p +1.60%
Home Retail Group (HOME) 204.90p +1.54%
Kaz Minerals (KAZ) 245.10p +1.41%

FTSE 250 - Fallers
RPS Group (RPS) 202.20p -3.35%
Jimmy Choo (CHOO) 170.00p -2.86%
Greggs (GRG) 721.50p -2.17%
Enterprise Inns (ETI) 108.30p -1.55%
Bwin.party Digital Entertainment (BPTY) 114.80p -1.54%
Millennium & Copthorne Hotels (MLC) 579.50p -1.53%
Game Digital (GMD) 340.00p -1.45%
Synthomer (SYNT) 221.20p -1.43%
Bank of Georgia Holdings (BGEO) 2,038.00p -1.40%
Dechra Pharmaceuticals (DPH) 821.00p -1.20%