London open: FTSE edges up as investors eye US GDP

London stocks edged higher in early trade on Thursday following a late rally on Wall Street, as investors eyed the latest US GDP data.

At 0835 GMT, the FTSE 100 was up 0.2% at 7,761.31.

Fourth-quarter US GDP data is due at 1330 GMT.

CMC Markets analyst Michael Hewson said: "As we look towards today’s first iteration of Q4 GDP is seems quite likely that we’ll see a slowdown from the strong performance in Q3.

"Expectations are for a modest slide to 2.5%, although with signs in recent months that consumer spending is slowing you might think that there could be considerable downside risks to that estimate."

In UK equity markets, 3i Group rallied as it hailed a positive third quarter and said it was on track to deliver "another year of good growth".

Prudential was in the black as the insurer and investment manager said it had received approval from Macau to open a branch of its Hong Kong business there.

Equipment rental firm Ashtead rose after well-received results from US peer United Rentals.

Tate & Lyle gained after it backed its full-year guidance as it said third-quarter trading was consistent with the first half.

Intermediate Capital and IG Group also pushed higher after well-received results.

On the downside, Diageo lost ground despite saying it had made a good start to the current year, after interim sales fizzed.

Wizz Air fell even as the Hungary-based budget airline said it narrowed losses in the third quarter on the back of fare increases and higher booking volumes. EasyJet was also in the red. Airlines had a strong day on Wednesday after easyJet said it expected to beat full-year profit expectations.

Market Movers

FTSE 100 (UKX) 7,761.31 0.21%
FTSE 250 (MCX) 19,855.01 0.26%
techMARK (TASX) 4,449.95 0.59%

FTSE 100 - Risers

3i Group (III) 1,513.00p 3.63%
Scottish Mortgage Inv Trust (SMT) 760.00p 2.32%
Prudential (PRU) 1,363.50p 2.21%
Ashtead Group (AHT) 5,154.00p 2.02%
Airtel Africa (AAF) 117.60p 1.82%
Hiscox Limited (DI) (HSX) 1,142.50p 1.78%
BAE Systems (BA.) 860.00p 1.78%
Croda International (CRDA) 6,952.00p 1.76%
Haleon (HLN) 319.15p 1.62%
Halma (HLMA) 2,124.00p 1.48%

FTSE 100 - Fallers

Diageo (DGE) 3,488.00p -5.09%
International Consolidated Airlines Group SA (CDI) (IAG) 168.10p -0.95%
Ocado Group (OCDO) 690.40p -0.95%
Fresnillo (FRES) 852.60p -0.88%
Whitbread (WTB) 3,051.00p -0.55%
Aviva (AV.) 453.30p -0.53%
Centrica (CNA) 98.52p -0.48%
Weir Group (WEIR) 1,812.00p -0.44%
Coca-Cola HBC AG (CDI) (CCH) 1,921.00p -0.36%
Smith (DS) (SMDS) 352.90p -0.28%

FTSE 250 - Risers

Tate & Lyle (TATE) 760.40p 5.14%
Intermediate Capital Group (ICP) 1,344.50p 3.66%
Octopus Renewables Infrastructure Trust (ORIT) 100.60p 3.29%
Target Healthcare Reit Ltd (THRL) 83.90p 2.69%
Moneysupermarket.com Group (MONY) 222.40p 2.49%
CMC Markets (CMCX) 240.00p 2.35%
Morgan Sindall Group (MGNS) 1,670.00p 2.33%
888 Holdings (DI) (888) 102.70p 2.09%
Diversified Energy Company (DEC) 118.60p 2.07%
IG Group Holdings (IGG) 795.00p 1.92%

FTSE 250 - Fallers

Wizz Air Holdings (WIZZ) 2,771.00p -8.00%
easyJet (EZJ) 495.00p -3.58%
Bakkavor Group (BAKK) 110.60p -3.49%
Shaftesbury (SHB) 375.00p -3.05%
Senior (SNR) 144.00p -1.77%
Capital & Counties Properties (CAPC) 112.00p -1.50%
Bytes Technology Group (BYIT) 398.40p -1.34%
Coats Group (COA) 71.30p -1.11%
Hill and Smith (HILS) 1,268.00p -1.09%
Computacenter (CCC) 1,940.00p -0.97%