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Strong earnings pull FTSE 100 higher ahead of BoE meet, election day

Published 06/05/2021, 08:25
Updated 06/05/2021, 08:30
© Reuters.
UK100
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NXT
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MRON
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FTMC
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(For a Reuters live blog on U.S., UK and European stock
markets, click LIVE/ or type LIVE/ in a news window)
* FTSE 100 up 0.3%, FTSE 250 adds 0.2%

May 6 (Reuters) - London's FTSE 100 edged higher on
Thursday, boosted by heavyweight consumer staple stocks and
positive earnings updates from Next and Melrose Industries,
while investors eyed Bank of England's policy decision and local
and regional elections.
The blue-chip index .FTSE rose 0.3%, with fashion retailer
Next NXT.L gaining 2.1% after it raised its profit outlook for
the 2021-22 year for the second time in two months. Engineer Melrose MRON.L gained 1.2% after it said it was
performing "modestly" ahead of expectations, with operating
margins in the first quarter improving faster than expected.
The domestically focused mid-cap FTSE 250 index .FTMC
advanced 0.2%.
The BoE is expected to raise 2021 GDP forecast sharply from
its previous estimate of 5% growth at 1100 GMT, and it might
start to slow its pandemic emergency support. Voters in England, Scotland and Wales head to the polls on
Thursday in a series of different elections, with a vote for the
Scottish parliament and one for a seat in Westminster in focus
for clues to Britain's future political landscape.

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