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FTSE 100 Edges Higher In Cautious Trade
(RTTNews) - U.K. stocks rose slightly on Thursday while the pound rebounded a little after falling the previous day in the wake of Chancellor Jeremy Hunt's Autumn Statement.
Hunt unveiled tax cuts and other measures in his autumn budget to boost growth but forecast a far more sluggish economic outlook than previously expected.
The benchmark FTSE 100 was up 18 points, or 0.2 percent, at 7,487 after closing 0.2 percent lower on Wednesday.
Oil and gas shares advanced, with BP Plc climbing 1.1 percent and Shell adding 0.7 percent, despite oil extending overnight losses on concerns over delayed OPEC+ meeting.
Virgin Money UK fell 1.6 percent after reporting a drop in its annual profit.
Travel company Jet2 tumbled 3 percent after reporting its half-year results.
PZ Cussons rose 1.2 percent. The consumer goods company said its performance continues to be in line with the board's expectations and consistent with its fiscal 2024 outlook.
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