London stocks inch up on earnings bump

Keeping gains in check, London Stock Exchange Group moved 2.1% lower after reporting its preliminary full-year income largely in line with estimates. Shares of lender Barclays also traded in the red, down 3.3% as the stock traded ex-dividend.

UK shares edged higher on Thursday on a boost from a slew of positive earnings reports, including from Haleon and Ocado, while a drop in some financial stocks capped further gains.

The benchmark FTSE 100 index was up 0.2%, as of 0828 GMT, while the mid-cap FTSE 250 rose 0.2%. Haleon rose 7.5% to the top of the FTSE 100 after the Sensodyne toothpaste maker said it expected higher revenue in 2024, thanks to firm demand for its household products.

Man Group gained 2.9% after the hedge fund posted a 17% rise in assets under management, while Drax Group jumped 6.7% as the UK's largest source of renewable electricity posted a 66% jump in annual profit and raised its dividend. Ocado advanced 4.7% after the online supermarket and technology group forecast faster growth this year.

The industrial miners index was among the top sectoral performers, up 0.6%, tracking an uptick in base metal prices. Keeping gains in check, London Stock Exchange Group moved 2.1% lower after reporting its preliminary full-year income largely in line with estimates.

Shares of lender Barclays also traded in the red, down 3.3% as the stock traded ex-dividend.

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