FTSE Up 17.43 Points on Positive Earnings
London stocks closed higher on Thursday (July 18), boosted by positive corporate earnings, while economic data showed wage growth in Britain slowed, supporting expectations of an interest rate cut next month.
Meanwhile, the FTSE 100 index on the London Stock Exchange closed at 8,204.89 points, up 17.43 points or +0.21%.
The market was boosted by gains in energy and consumer staples stocks.
Shares in sportswear retailer Frasers Group jumped 9% after reporting a 13.1% rise in full-year profit and forecasting strong growth in the new financial year.
Economic data showed that average weekly UK wages, excluding bonuses, rose 5.7% in the three months to May, down from 6.0% in the three months to April.
Financial markets have raised their forecasts that the Bank of England (BoE) will cut interest rates next month to 41.2% from 30%.
Investors will be eyeing Friday's retail sales data for clues on the interest rate outlook.
Meanwhile, the FTSE 100 index on the London Stock Exchange closed at 8,204.89 points, up 17.43 points or +0.21%.
The market was boosted by gains in energy and consumer staples stocks.
Shares in sportswear retailer Frasers Group jumped 9% after reporting a 13.1% rise in full-year profit and forecasting strong growth in the new financial year.
Economic data showed that average weekly UK wages, excluding bonuses, rose 5.7% in the three months to May, down from 6.0% in the three months to April.
Financial markets have raised their forecasts that the Bank of England (BoE) will cut interest rates next month to 41.2% from 30%.
Investors will be eyeing Friday's retail sales data for clues on the interest rate outlook.
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