UK shares move higher ahead of US data

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Scanpix/AP
UK stocks are trading higher on Thursday ahead of the key US data releases due later in the day. However, persistent concerns over the lack of progress in the US budget negotiations put heavy pressure on the UK equities. Depressing the UK stock index, the country's retail sales were steady in November, confronting expectations for a mild increase of 0.3%. The FTSE 100 Index edged up 0.09% to trade at 5,966.90. Six out of ten sectors were among gainers. The top-performers were consumer goods and basic materials. British American Tobacco climbed 1.42% after Nomura upgraded its share price target to GBP38.8 from GBP35.06, citing a high development potential for organic products. Among miners, Rio Tinto, BHP Billiton and Vedanta Resources jumped 0.81%, 0.82% and 0.61%, respectively. Another notable mover was Weir Group, advancing 3.75% after it agreed to buy Mathena Inc. At the same time, utilities and telecommunications moved lower, with United Utilities and Vodafone Group sagging 1.67% and 0.48%.


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