U.K. stocks opened higher on Monday, as upbeat earnings updates from the likes of Associated British Foods and Bunzl helped offset worries of further rate hikes by the U.S. Federal Reserve.
The benchmark FTSE 100 was up 56 points, or 0.7 percent, at 7,935 after declining 0.4 percent on Friday.
Bunzl rallied 2.6 percent after reporting a jump in pre-tax profits.
The international distribution and services business also announced that it agreed to acquire Arbeitsschutz-Express, a fast-growing online distributor of workwear and PPE in Germany for an undisclosed amount.
Auto and aircraft parts supplier Senior Plc added 1.2 percent after it returned an annual adjusted profit from a loss in the year-ago period.
Primark owner Associated British Foods gained 1.3 percent after delivering strong first-half performance and lifting its FY23 earnings view.
Market Analysis
FTSE 100 Gains On Earnings
2023-02-27 09:15:52
