FTSE Modestly Higher As Investors Focus On Earnings

(RTTNews) - U.K. stocks are up in positive territory on Thursday with investors switching their focus to earnings updates. A firm trend across Europe amid optimism over a potential trade deal between the EU and US is also contributing to the positive mood in the British market.

The benchmark FTSE 100 was at 8,960.62 a little while ago, gaining 34.07 points or 0.38%.

Diploma, up 7.1%, is the biggest gainer in the FTSE 100 index. Ashtead Group, Lloyds Banking Group, Whitbread, IMI, Tayloer Wimpey, Coca-Cola Europacific Partners, Smiths Group, Pershing Square Holdings, Airtel Africa, Rentokil Initial and Smith & Nephew are gaining 1.5 to 2.7%.

Online supermarket and technology group Ocado is up more than 12% after reporting better-than-expected first-half results.

Shares of low-cost airline EasyJet Plc are down 6.5% after strike action by French air traffic controllers and higher fuel prices dented its quarterly performance.

Endeavour Mining is down nearly 2%, while Anglo American Plc is down by about 1.3%. Antofagasta, IAG, Mondi, Reckitt Benckiser and St. James's Place are lower by 0.6 to 1%.

In economic releases, data showed the U.K. unemployment rate rose unexpectedly to 4.7% in the three months to May, while it was forecast to remain unchanged at 4.6%.

Pay growth slipped from 5.3% to 5%, spurring hopes the Bank of England will cut interest rates next month.