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FTSE 100 Modestly Higher In Early Trade

(RTTNews) - U.K. stocks eked out modest gains on Thursday, on course to snap a four-day losing streak after Fed Chair Jerome Powell signaled the U.S. central bank is poised to cut interest rates for the first time in more than a decade amid uncertainties and downside risks surrounding the economic outlook.

Meanwhile, after several days of intense criticism by U.S. President Donald Trump over his branding of the White House as 'inept", Britain's ambassador to Washington has been forced to resign.

The benchmark FTSE 100 was up 19 points or 0.26 percent at 7,550 after closing 0.1 percent lower on Wednesday.

Energy stocks were moving higher as oil prices hit seven-week highs. BP Plc rose 0.8 percent and Tullow Oil advanced 1.3 percent.

Ryanair Holdings declined 1.2 percent. The boss of the airline warned on Wednesday that the prolonged grounding of Boeing's 737 MAX may weigh on the airline's growth plans.

Reckitt Benckiser Group rallied 2.4 percent after it reached agreements to settle investigations related to the sales and marketing of Suboxone Film.

Land Securities Group rose half a percent. Its Chief Executive Officer Robert Noel has informed the Board of his intention to retire from the company during 2020.

Indivior jumped 27 percent after raising its annual profit and revenue forecast.
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