FTSE Modestly Higher As Investors Focus On Earnings
(RTTNews) - U.K. stocks are up in positive territory on Thursday with investors switching their focus to earnings updates. A firm trend across Europe amid optimism over a potential trade deal between the EU and US is also contributing to the positive mood in the British market.
The benchmark FTSE 100 was at 8,960.62 a little while ago, gaining 34.07 points or 0.38%.
Diploma, up 7.1%, is the biggest gainer in the FTSE 100 index. Ashtead Group, Lloyds Banking Group, Whitbread, IMI, Tayloer Wimpey, Coca-Cola Europacific Partners, Smiths Group, Pershing Square Holdings, Airtel Africa, Rentokil Initial and Smith & Nephew are gaining 1.5 to 2.7%.
Online supermarket and technology group Ocado is up more than 12% after reporting better-than-expected first-half results.
Shares of low-cost airline EasyJet Plc are down 6.5% after strike action by French air traffic controllers and higher fuel prices dented its quarterly performance.
Endeavour Mining is down nearly 2%, while Anglo American Plc is down by about 1.3%. Antofagasta, IAG, Mondi, Reckitt Benckiser and St. James's Place are lower by 0.6 to 1%.
In economic releases, data showed the U.K. unemployment rate rose unexpectedly to 4.7% in the three months to May, while it was forecast to remain unchanged at 4.6%.
Pay growth slipped from 5.3% to 5%, spurring hopes the Bank of England will cut interest rates next month.
Rate Cut Hopes Drag The Dollar Down
Bay Street Likely To Open Slightly Higher, But Weak Metal Prices Could Weigh
FTSE 100 Up Marginally As Investors Look For Direction
CAC 40 Drifts Lower In Lackluster Trade
Sensex Jumps 746 Points As Focus Shifts To Trump-Putin Talks; Nifty Ends At 24,585
DAX Modestly Lower In Cautious Trade; Defense Stocks Drift Lower
UK Job Placements Decline Sharply On Weaker Confidence & Budget Pressures
