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FTSE 100 Edges Higher In Cautious Trade

U.K. stocks recovered from an early slide to edge higher on Thursday and the pound drifted lower as Prime Minister Theresa May faces a showdown with the 1922 committee over timetable for her resignation.

Traders also kept a close eye on the trade front after Washington blacklisted Chinese telecoms giant Huawei, which has been in the crosshairs of America's security and intelligence agencies.

The benchmark FTSE 100 was up 18 points or 0.23 percent at 7,313 after rising 0.8 percent in the previous session.

Premier Oil jumped 8 percent after increasing its 2019 full-year production guidance.

National Grid fell 2.4 percent after its fiscal year statutory earnings declined from prior year due to exceptional charges.

Anglo American rallied 3 percent. The mining giant announced that Debmarine Namibia has approved construction of a new custom-built diamond recovery vessel.

Luxury fashion house Burberry tumbled 4.5 percent after reporting lackluster full-year profit and revenue.

Tour operator Thomas Cook Group plunged as much as 18 percent after its first-half loss widened from last year.

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