FTSE 100 Live: Stocks edge up as Primark sales hold steady; Rachel Reeves to give speech to investors
The FTSE 100 is netted a marginal gain on open as a sleuth of London-listed firms providing trading updates.
The blue-chip index jumped 0.2 per cent on open to around 9,262.40.
But this slightly trails its European counterparts where Germany’s DAX rose 0.4 per cent gain and Italy’s MIB and France’s Cac 40 0.3 per cent.
Primark owner and FTSE 100 giant Associated British Foods has also released company results showing a modest improvement in sales.
Elsewhere, ahead of her keynote at the British Private Equity and Venture Capital (BVCA) summit later today, Chancellor Rachel Reeves has reiterated her commitment to supporting private capital firms in raising funds.
Reeves said: “More companies planning to step up investment here underlines Britain’s strength as a place to build long term success.
“We are making it easier for firms to raise capital… and ensuring the UK remains one of the most attractive places in the world to invest, scale and succeed.”
However, as the Autumn Budget begins to loom over the City, BVCA chief executive, Micheal Moore, has called for more government support, including accelerating pension reforms to unlock greater investment.
He said, “This industry can go further with the right conditions in place.”
All eyes will be on Reeves’ speech later this morning to see if any additional help is suggested.