MARKET REPORT

STOCK markets bounced back as bargain-hunting investors snapped up cheap shares that were hit by trade war fears a day earlier. The FTSE 100 ended the day up nearly 0.8% or 59.37 points at 7,651.33 points, after falling 2.3% on Wednesday.

Sterling edged into positive territory to trade higher by 0.14% against the US dollar at 1.322, and rose 0.05% versus the euro at 1.131.

In UK stocks, shares jumped 51p to 1,545p after 21st Century Fox was given the Government’s all-clear to take over Sky. However, the broadcaster still has to see off rival Comcast, which has upped its bid for Sky.

fell 680p to 5,820p as the online fashion retailer warned its fullyear growth will be at the “lower end” of market expectations – despite logging a 22% rise in group revenues to £823.9m in the four months to June 30.

Shares in the group behind airline Jet2, surged 259p to 999.5p after pre-tax profits rose 49% to £134.6m in the year ended March 31, while revenues increased 38%.

shares staged a minor recovery to end up 1p at 485.4p, having taken a hit in morning trading. The home furnishings group’s sales were down 1.4% in the 13 weeks to June 30, with total revenue at £236.5m for the period.

Sofa chain rose 1.4p to 200p despite warning over full-year earnings after the recent heatwave dented sales. DFS said like-for-like sales in the core business were about 3% lower in the 23 weeks to July 7 and around 4% lower in the 49 weeks of the year so far. Full-year underlying earnings were now expected to be lower than the £82.4m reported the previous year.

rose 9.3p to 423.7p as it reported a solid start to the financial year, with revenues growing 21.3% for the period between April 1 and June 30, from £656.3m to £796.3m.

The biggest risers on the FTSE 100 were up 184p to 5,434p, up 51p to 1,545p,

up 37.5p at 1,221.5p, and up 50p at 1,649p. The biggest fallers were down 28.5p at 1,018p, down 4.2p to 223.65p,

down 34p at 3,130p, down 1.85p at 175.6p. and