UK stocks inched higher at the opening bell on Thursday, ahead of key US inflation data, but lagged a broader rally in Europe after heavyweights including HSBC and Rio Tinto weighed as their shares traded without the entitlement of dividends.
The FTSE 100 index gained 0.1% by 7:14 GMT, while the broader European STOXX 600 index rose 0.6%.
The blue-chip British stocks gauge was still on track to extend gains after its biggest daily gain in three weeks on Wednesday.
Banks stocks – Barclays, Natwest Group, HSBC Holdings and Standard Chartered – were down between 0.5% and 1% as they traded ex-dividend. Miner stocks fell 0.4%, with Rio Tinto’s 2.5% fall weighing.
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Spirax-Sarco shares fell 5% after the firm reported first-half profit and revenue below expectations.
A much-awaited US inflation report due later in the day will help investors gauge the trajectory of the Federal Reserve’s policy path.
FTSE 250 stocks edged higher by 0.2%.
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