FTSE 100 Rises On Earnings
(RTTNews) - U.K. stocks were moving higher in cautious trade on Wednesday, with encouraging earnings updates from the likes of Lloyds Bank and Reckitt Benckiser helping underpin sentiment.
The benchmark FTSE 100 rose 0.4 percent to 7,334 after ending flat with a negative bias on Tuesday.
The British pound edged higher against the dollar ahead of the Federal Reserve's interest-rate decision later in the day.
Rio Tinto tumbled 3.7 percent after the miner reported a 29 percent drop in first-half profit.
Reckitt Benckiser surged 5.2 percent after the consumer goods firm swung to interim profit.
British American Tobacco was marginally higher. The tobacco company announced a 957 million-pound ($1.15 billion) impairment charge related to the transfer of its Russian business.
Lender Lloyds Banking Group jumped 4.2 percent after hiking its dividend and full-year profitability forecast.
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