Top Stories
Top Stories
Wires

UPDATE 1-FTSE breaks six-day losing streak though earnings disappoint

Shashwat Awasthi

* FTSE 100 up 0.5%, FTSE 250 up 0.6%

* Glencore slips after HY core profit misses market view

* Spirax-Sarco, Standard Life Aberdeen drop after results

* Upbeat earnings help mid-caps outperform (Adds news items, analyst comments, updates share prices)

Aug 7 (Reuters) - London's FTSE 100 gained on Wednesday after a run of six losing sessions triggered by worries over the U.S.-China trade dispute, though poor earnings for global commodities trader Glencore and a handful of other companies limited gains.

The blue-chip FTSE 100 added 0.5%, supported by broad gains in shares of heavyweight constituents such as Shell , healthcare firms AstraZeneca and GlaxoSmithKline as well as HSBC.

However, commodities trader Glencore weighed as it fell 2.5% and hit a near three-year low after an almost one-third drop in core profit.

The mid-cap FTSE 250 rose 0.6% by 0748 GMT, helped by a post-earnings jump in Ultra Electronic and infrastructure products maker Hill & Smith.

"While markets in Europe appear to be finding a modicum of support after several days of declines, it remains to be seen whether this can be sustained when bond yields continue to sink and safe havens continue to see inflows," CMC Markets analyst Michael Hewson said.

The FTSE 100 has tumbled more than 5% in just a week, after having gained in six of the first seven months of the year, following President Donald Trump's threat to slap a 10% tariff on a further $300 billion in Chinese imports next month.

In news driven moves on Wednesday, valve maker Spirax-Sarco slid almost 7%, on course for its worst day in more than 11 years, after it warned sales growth at its main business would more than halve in the second half of the year.

Asset manager Standard Life Aberdeen gave up 6.5% despite an increase in first-half assets under management and administration.

On the mid-cap index, Hill & Smith surged 7.6%, while Ultra Electronics also gained 5%, after both firms posted higher half-year results. (Reporting by Shashwat Awasthi in Bengaluru; editing by Patrick Graham and Anil D'Silva)