- FTSE 100 up 0.4%, FTSE 250 up 0.9%
Jan 30 (Reuters) - Britain's benchmark index touched a record high on Thursday as investors cheered a healthy set of corporate updates, while comments by U.S. Federal Reserve Chair Jerome Powell also soothed markets.
The blue-chip FTSE 100 touched a record-high and is set to log its fourth straight session of gains. The benchmark index is also inching its way towards the psychological 8,600 mark. It was last up 0.4% at 8,595.79 points by 1217 GMT.
The midcap FTSE 250 rose 0.9%, cruising at its highest level in nearly a month.
Heavyweight Shell was one of the biggest boosts to the index, rising 1.3%, after the energy giant reported its fourth-quarter results and announced a $3.5 billion share buyback.
The personal goods sector was the biggest gainer among sectors, advancing 3.2% after Watches of Switzerland Group rose 4%.
St James's Place jumped 9.1% after the British wealth manager reported better-than-expected managed funds for 2024.
Airtel Africa soared 10% after the telecommunications & mobile money services provider reported upbeat figures for nine-month revenue.
Meanwhile, limiting gains on the mid-cap index was a 7% drop in European low-cost airline Wizz Air after a second profit warning in six months.
Apart from earnings, investors also were calmed by comments from Fed chair Powell after the U.S. central bank held interest rates steady. He said, "we do not need to be in a hurry to adjust our policy stance" and monetary policy is "well positioned" for the challenges at hand.
The pound slipped, providing a tailwind for export-heavy firms.
On the data-front, investors will get a reading of house prices in Britain for January. Across the pond, the U.S. fourth-quarter GDP reading is scheduled to be released before markets open on Thursday, while December's personal consumption expenditures price index data is expected on Friday.
Reporting by Pranav Kashyap in Bangalore; Editing by Sonia Cheema
Source: Reuters