U.K. stocks traded higher on Thursday as investors digested a slew of earnings and awaited the release of U.S. inflation data later in the day for directional cues.
It is believed a further softening of U.S. consumer inflation in December would lead to a more measure approach by the Federal Reserve to raise rates.
The benchmark FTSE 100 was up 40 points, or half a percent, at 7,761 after closing 0.4 percent higher on Wednesday.
Retailer Tesco dropped half a percent after keeping its full-year profit guidance.
Telecom major Vodafone Group jumped 3.4 percent as it announced appointment of Aldo Bisio as the Group Chief Commercial Officer, effective January 12, in addition to his current role as CEO of Vodafone Italy.
Hilton Food Group soared 7.2 percent. After posting FY22 results in line with expectations, the food packing business said it is well-placed given encouraging progress to pass through and mitigate inflationary cost increases.
Marks & Spencer fell over 2 percent after maintaining its profit guidance.
British Gas owner Centrica rallied 5.6 percent after raising its profit forecast.
Homebuilder Persimmon surged 4.4 percent despite warning of a slowdown in housing demand.
Market Analysis
FTSE 100 Rises Ahead Of US Inflation Report
2023-01-12 09:25:24
