FTSE 100 Moves Higher; Pharma Stocks Gain
(RTTNews) - The UK stock market's benchmark index FTSE 100 climbed higher after a flat start Thursday morning, led by gains in pharmaceuticals and consumer sectors.
Easing concerns about inflation and interest rates contributed to the positive mood in the market. Investors awaited crucial U.S. non-farm payrolls data due later in the day.
The FTSE 100 was up 45.20 points or 0.43% at 10,523.54 nearly half an hour before noon.
BAE Systems climbed 2.7%. Tesco, Compass Group, Airtel Africa and Babcock International gained 2.2%-2.5%. Pharmaceuticals stocks AstraZeneca and GSK moved up 1.7% and 1.5%, respectively.
Sainsbury (J) advanced nearly 2%. Coca-Cola HBC, British American Tobacco, Aviva, Diageo, Haleon, Marks & Spencer, Burberry Group, St. James's Place, Lion Finance, Reckitt Benckiser, Admiral Group and Imperial Brands gained 1%-1.8%.
Polar Capital Technology Trust, Relx, JD Sports Fashion, Computacenter, The Sage Group, Rio Tinto, Anglo American Plc, Spirax Group, Metlen Energy & Metals, Persimmon, Entain, Barratt Redrow and Next lost 1%-2.3%.
Shares of electricals retailer Currys tumbled nearly 4% despite the company posting improved annual profit and announcing a fresh share buyback program of up to £50 million.
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