BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - U.K. stocks were modestly higher on Thursday and the British pound eased after official data showed the U.K. economy expanded at a slower pace in the third quarter.
Gross domestic product grew 1.3 percent sequentially in the third quarter, but weaker than the 5.5 percent expansion seen in the previous quarter. Nonetheless, this was the second consecutive growth.
The level of GDP was 2.1 percent below where it was before the coronavirus pandemic at the end of 2019. On a monthly basis, GDP growth improved to 0.6 percent from revised 0.2 percent in August.
The benchmark FTSE 100 rose 22 points, or 0.3 percent, to 7,362 after rising 0.9 percent on Wednesday.
Retailer Burberry Group slumped 6.6 percent after maintaining its medium-term guidance for high single-digit top line growth.
Aviva rose about 1 percent. The insurer said it is on track to return at least 4 billion pounds ($5.41 billion) to shareholders and meet cost saving targets.
3i Group jumped 3 percent after the private equity company posted a rise in first-half pre-tax operating profits.
Johnson Matthey shares plunged more than 16 percent. The chemicals company said it would exit its battery materials business due to crushing competition. Also, its current boss is stepping down.
Copyright RTT News/dpa-AFX
© 2021 AFX News
