U.K. stocks advanced on Wednesday as Marks & Spencer raised its profit forecast and energy stocks surged, helping counter inflation worries.
The benchmark FTSE 100 rose 24 points, or 0.3 percent, to 7,298 after losing 0.4 percent on Tuesday.
BP Plc climbed 1.1 percent and Royal Dutch Shell rose half a percent as oil prices rose on industry data showing a surprise decline in U.S. crude stocks last week.
Retailer Marks & Spencer soared as much as 14.5 percent as it raised its annual profit outlook for the second time in less than three months.
Media firm ITV jumped 11 percent after the company said 2021 advertising revenue will hit record levels.
Vodafone Group shares were little changed. The telecom company said it has agreed to transfer its 55 percent shareholding in Vodafone Egypt to Vodacom Group Limited, its sub-Saharan African subsidiary, for a transaction value of 2.72 billion euros on a debt, cash free basis.
Market Analysis
FTSE 100 Edges Higher On Earnings
2021-11-10 09:29:12
