FTSE 100 Edges Higher On Earnings
(RTTNews) - U.K. stocks were slightly higher on Tuesday as investors cheered upbeat earnings updates from the likes of BP Plc and Greggs.
The benchmark FTSE 100 was up 12 points, or 0.2 percent, at 7,425 after closing 0.1 percent lower on Monday.
BP Plc rallied 3.6 percent as the energy giant hiked its dividend and accelerated share buyback after reporting its highest quarterly profit in 14 years. Shell shares advanced 1.1 percent.
Greggs jumped 2.4 percent after the bakery chain reported a slight increase in first-half pre-tax profit and said it is well placed to navigate the cost of living crisis. Man Group plunged 5.2 percent after the fund manager reported its first decline in assets for a three-month period in more than two years.
In economic releases, U.K. house price inflation accelerated less-than-expected in July, after easing in the previous three months, survey results from the Nationwide Building Society showed.
The house price index logged a double-digit annual growth of 11.0 percent in July, faster than the 10.7 percent rise in June. However, this was slower than the economists' forecast of 11.5 percent.
On a monthly basis, house prices edged up 0.1 percent in July, following a 0.2 percent rise in the previous month.
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