British Stock Markets Rally on Strong Corporate Updates

British stocks climbed on Thursday, led by positive corporate earnings reports. The FTSE 100 rose by 0.2%, supported by energy and consumer shares, while the FTSE 250 reached a two-year high. Frasers Group saw a 9% increase in shares, and Schroders benefited from an upgrade by Morgan Stanley.

British stocks climbed on Thursday following a series of positive corporate earnings updates, lifting the FTSE 100 by 0.2%.

Shares in Frasers Group surged 9% after the sportswear retailer reported a 13.1% rise in annual profit and forecast continued strong growth. Schroders also saw significant gains, rising nearly 5% as Morgan Stanley upgraded its rating to 'overweight' from 'equal weight'.

Broadly, energy and consumer staple stocks drove the blue-chip index higher, while UK wage growth data indicated that weekly earnings had grown by 5.7%, down from a previous 6.0%, raising expectations of an interest rate cut by the Bank of England. The FTSE 250 midcap index closed 0.7% higher, marked by notable performances from Dunelm Group and AJ Bell.

(With inputs from agencies.)