FTSE 100 rises on strong earnings, economic data

Detailed summary

Nov 12 (Reuters) - Britain's FTSE 100 climbed on Thursday, after a slew of positive earnings reports and strong economic growth data helped lift sentiment. The blue-chip FTSE 100…

Nov 12 (Reuters) - Britain's FTSE 100 climbed on Thursday, after a slew of positive earnings reports and strong economic growth data helped lift sentiment.

The blue-chip FTSE 100 index rose 0.3% to its highest close in nearly four weeks. The midcap FTSE 250 closed nearly flat.

• Burberry jumped 8% to become the top gainer in the FTSE 100 after the luxury brand reported second-quarter sales and profit above estimates

• Rolls-Royce advanced 2% as the engineer reaffirmed its annual outlook and unveiled a £1.5 billion share buyback

• B&M jumped 20.9% after the discount retailer said its annual profit may rise by up to 19.8%

• 3i Group rose 5.7% after the private equity firm launched a second share buyback programme worth up to £750 million

• Britain's economy grew 0.7% in the third quarter, its fastest pace in 2-1/2 years, supported by strong services activity and AI-related demand

• Among decliners, the precious metal mining sector fell 4.7%, as gold prices fell close to 3% [GOL/]

• Inflation concerns returned as oil prices rose due to fading hopes for peace in the Middle East, helping the dollar and denting metal prices

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