BLUE chips Burberry and outsourcing firm Serco notched up impressive share gains yesterday despite a lacklustre session on the London market.
The global equities rebound paused for breath after a recent improvement in sentiment driven by reassuring comments from central banks, particularly in China and the US.
The FTSE 100 Index closed 3.8 points down at 6303.9, having jumped by more than 90 points on Monday at the start of the second half of the trading year.
Indices across Europe were also lower after revised figures showed the rate of eurozone unemployment was higher than first thought, at a record high of 12.2 per cent in May.
The Dax in Germany fell 0.9 per cent and France’s CAC 40 dropped 0.7 per cent.
But the Dow Jones Industrial Average on Wall Street edged higher in early trade after betterthan- expected manufacturing data.
Among stocks, luxury goods firm Burberry was three per cent higher, up 40p to 1405p, after an upgrade from broker HSBC on the back of recent strategic initiatives, such as the integration of its beauty range.
Outsourcing firm Serco surged more than six per cent after it confirmed a major support contract for the US Medicare and Medicaid health plans.
The deal is thought to be worth as much as $1.25bn (£958m) over the next five years for the operator of prisons and the Docklands Light Railway.
Serco’s shares are now at a level not seen since the end of 2000 after rising by 40.5p to 665.5p.
Chocolate retailer Thorntons improved by 3.5p to 98.5p as it issued a brief statement saying that underlying profits for 2012- 2013 will be ahead of current market expectations of £4.6m.
But there was no further rally for housebuilder Persimmon, despite reporting that reservations of new homes have surged 30 per cent since the launch of a Government scheme allowing people to buy properties with a five per cent deposit.
The builder said buyers have reserved 1,124 of its homes through the Help to Buy scheme since its launch in April.
While the improved housing market recently propelled the stock into the FTSE 100 Index, shares were 16p lower at 1224p yesterday.
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