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FTSE 100 Marginally Higher On Earnings

U.K. shares were marginally higher on Wednesday as firmer commodity prices, a weakening pound and positive earnings updates from the likes of Burberry and Micro Focus helped investors shrug off North Korea's threat to scrap a historic summit next month between its leader Kim Jong Un and U.S. President Donald Trump.

The benchmark FTSE 100 was marginally higher at 7,727 in late opening deals after rising 0.2 percent in the previous session.

Mining giant BHP Billiton advanced 0.8 percent. CEO Andrew Mackenzie said the company continues to target a further US$2 billion in productivity gains by the end of the 2019 financial year, on top of the more than US$12 billion achieved since 2012.

Burberry rallied more than 2 percent. The British luxury fashion house announced another share buyback after reporting full-year adjusted operating profit above analyst estimates.

Software company Micro Focus International jumped almost 9 percent on saying the signing of a new $40 million (29 million pounds) licensing deal would help bolster its first-half revenue.

Alcoholic beverages firm Diageo rose half a percent after launching and pricing an SEC-registered $2 billion bond transaction.

by RTTNews Staff Writer

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