London stocks soar to levels not seen since early 2020

The biggest winners in the FTSE 100 were exchange operator London Stock Exchange Group LSEG,
+3.16%,
which rose 3%, and retailer JD Sports Fashion JD,
+3.51%,
that increased by 3.4%. Among the heavyweights, GlaxoSmithKlines GSK,
+1.13%

GSK,
+1.34%
shares rose by 1.1%.

Setbacks included sports betting Entain ENT,
-0.30%
and UK lender Lloyds Banking Group LLOY,
-0.33%

LYG,
+0.39%.

Shares of Deliveroo ROO,
-6.09%
fell more than 3%, after the midterm disappointed outlook from food-supply companies. As reflected in our guidance, while we expect consumer behavior to moderate later in the year, we remain excited about the opportunities ahead and our ability to capitalize on them, said Will Shu, founder and CEO of Deliveroo, in a statement.

Still, there were positives, such as order value and volume being higher than expected for the first half, and cash flow looks good, AJ Bell financial analyst Danni Hewson said in a note to customers.

News that it hired a valued Amazon executive in a top tech role and German rival Delivery Heros’ decision to take a significant stake in the company helped boost its share price and kick-start rehabilitation and there is at least nothing in the first half of Deliveroo’s results to undermine that process, she said.

In the mid-cap FTSE 250 MCX,
+0.78%,
the biggest winner was the promotional merchandise company 4imprint FOUR,
+7.34%,
which climbed 9%, and the biggest mid-cap decliner was asset management firm Quilter QLT,
-7.19%,
which fell by 6%.