UK’s FTSE 100 opened higher on Wednesday, boosted by a positive earnings update from insurer Aviva, although worries about Britain’s gloomy economic outlook and interest rate rises weighed on the overall mood.
The blue-chip FTSE 100 edged up 0.2% by 0809 GMT, mirroring a cautious mood across European markets. Aviva climbed 1.8% after the insurer maintained its dividend guidance and capital returns outlook as it reported a positive end to trading for the year in its general insurance unit.
FTSE 100 dips on recession fears
Airline stocks also got a lift after EasyJet said it expected to beat current market expectations for 2023 based on the strength of bookings into summer and was set to deliver a full-year profit. EasyJet jumped 6.6%, while Wizz Air added 4.7%. The midcap FTSE 250 index inched up 0.1%.
Limiting further gains in markets, Britain’s official economic forecaster has told the government that it overestimated the prospects for medium-term growth and that it intends to revise down its outlook, the Times newspaper reported.
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