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Lloyds and Unilever helped the FTSE 100 climb on Wednesday

Lloyds Banking Group chief executive Antonio Horta-Osorio, as the bank has said he did not break company expenses policy during a trip to Singapore.
Lloyds Banking Group chief executive Antonio Horta-Osorio, as the bank has said he did not break company expenses policy during a trip to Singapore.

Jonathan Brady PA Wire/PA Images

Britain's benchmark share index, the FTSE 100, closed higher on Wednesday boosted by strong days from consumer goods giant Unilever and Lloyds Bank.

The FTSE ended up by around 0.4%, having spent the entire day in positive territory, with Lloyds leading the way after it reported an increase in its statutory profits from £1.6 billion in 2015, to £4.2 billion, and confirmed a £2.2 billion dividend payout to shareholders.

Both results buoyed shareholders and sent Lloyds to the top of the FTSE in morning trade. It ended the day up by 4.4% at £0.6970.

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At the close of play the index stood at 7,303 points, back above the psychologically significant 7,300 mark, and within 35 points of its record closing high.

Here is how that looked: 

Screen Shot 2017 02 22 at 16.58.35
Screen Shot 2017 02 22 at 16.58.35

Investing.com

"We have delivered strong financial performance in 2016 as we continue to make good progress against our strategic priorities. Underlying profit was £7.9 billion and statutory profit has more than doubled to £4.2 billion. We continue to improve our customers' experience, simplifying the business whilst growing in targeted areas and in December announced the acquisition of MBNA's prime UK credit card business," Lloyds' CEO Antonio Horta-Osorio said in a statement.

"FTSE sentiment may be impacted by Lloyds Banking Group results which appear to have beaten at the underlining profits before tax level (highest in 10 years; lower PPI) and the dividend being increased," Mike van Dulken of Accendo Markets writes in his morning email.

While Lloyds led the FTSE in morning trade, it was Unilever which ended the day at the top of the board, bouncing 5.7% after the firm revealed that it is reviewing options to drive shareholder value, just a few days after rejecting a takeover bid from Kraft Heinz.

"The events of the last week have highlighted the need to capture more quickly the value we see in Unilever," it said in a statement. The review is expected to be completed by early April, according to the company. 

Elsewhere in Europe stock indexes were mixed following on from new record highs in the USA on Tuesday evening. Here's the scoreboard:

Screen Shot 2017 02 22 at 16.50.45
Screen Shot 2017 02 22 at 16.50.45

Investing.com

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