FTSE 100 Modestly Higher After A Two-day Rally

U.K. stocks were moving higher on Wednesday as easing Omicron fears offset continuing worries about China’s property market.

Shares in Chinese property company Kaisa were suspended today after the company missed a debt deadline.

The benchmark FTSE 100 was up 20 points, or 0.3 percent, at 7,359 after gaining 1.5 percent on Tuesday.

Gold mining company Centamin rose 0.8 percent after saying a review of its Sukari mine in Egypt indicated the largest reserve growth in a decade.

Stagecoach rallied 2.2 percent after the transport group reported an increase in its operating profit from £16.1m to £32.9m year-on-year.

Berkeley Group Holdings, which operates mainly in London, Birmingham and the South of England, surged 4.6 percent after raising its profit outlook.

Investment manager Man Group soared 5.5 percent after announcing it intends to buy back shares worth up to $250 million.

TUI lost 3.6 percent after the travel operator posted an annual loss of over 2 billion euros ($2.26 billion).

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