FTSE 100 Rises Led By Banks

(RTTNews) - U.K. stocks edged up slightly on Thursday after another Federal Reserve official said the time has come for the U.S. central bank to cut interest rates.

The benchmark FTSE 100 was up 24 points, or 0.3 percent, at 8,367 after finishing marginally lower on Wednesday.

Banks rebounded after falling on Wednesday amid concerns that the new Labour government could raise taxes on the sector in October's Budget. NatWest, HSBC, Lloyds Ban and Barclays rose 1-2 percent.

GSK rose half a percent after its RSV vaccine received approval for wider use in adults in Europe.

Building materials distributor Grafton Group fell about 1 percent after reporting a fall in its first-half pretax profit and revenue.

Energy services firm Hunting slumped 4.4 percent despite posting a 23 percent jump in its first-half profit.