UK's FTSE 100 inches up as global mood lifts; Dr Martens tumbles

The mid-cap FTSE 250 eked out a small 0.2% gain, weighed down by a 9.7% drop in Dr Martens Plc as it also posted a slump in annual profit, citing higher investments to tackle supply chain and operational snags. AstraZeneca Plc added 0.6% after the drug maker said a combination of its cancer drug Lynparza and abiraterone has been approved in the U.S. for the treatment of a type of prostate cancer.

UK's FTSE 100 index edged up on Thursday, tracking an improvement in global mood, while footwear maker Dr Martens logged its worst day in over four months after warning of lower earnings for the upcoming year.

The blue-chip FTSE 100 was up 0.4% as investors were relieved that the U.S. debt ceiling bill successfully passed through the House of Representatives, while hopes of the Federal Reserve pausing rate hikes further soothed the mood. The mid-cap FTSE 250 eked out a small 0.2% gain, weighed down by a 9.7% drop in Dr Martens Plc as it also posted a slump in annual profit, citing higher investments to tackle supply chain and operational snags.

AstraZeneca Plc added 0.6% after the drug maker said a combination of its cancer drug Lynparza and abiraterone has been approved in the U.S. for the treatment of a type of prostate cancer. The broader healthcare sector rose 0.4%.

Pennon Group Plc slid 2.3% after posting a sharp drop in annual profit due to extreme weather patterns and increased costs.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)