* FTSE 100 up 0.1%, FTSE 250 adds 0.2%
June 8 (Reuters) - London’s FTSE 100 index edged higher on Tuesday, helped by positive earnings updates from Intermediate Capital Group and British American Tobacco, while Aviva gained after an activist investor built a stake.
The blue-chip index rose 0.1%. Intermediate Capital Group added 5.1%, after the alternative asset manager posted a 19% jump in its annual third-party assets under management (AUM) as COVID-19 vaccinations and government support measures boosted investor sentiment.
British American Tobacco rose 2%, after it raised its annual revenue growth forecast to more than 5% at constant currency as the cigarette maker’s focus on newer products like e-cigarettes and tobacco-heating devices pays off.
However, gains were limited on the FTSE 100 by a fall in heavyweight oil majors BP and Royal Dutch Shell on the back of lower crude prices.
The domestically focused mid-cap FTSE 250 index advanced 0.2%.
Aviva gained 2.6% after activist investor Cevian Capital took a 4.95% stake in the British insurer and said the company should be able to return 5 billion pounds ($7.08 billion) of excess capital in 2022.
(Reporting by Devik Jain in Bengaluru; Editing by Subhranshu Sahu)
Source: Reuters