Market News
Nov 1 - Britain's FTSE 100 started November on a positive footing, supported by retailer stocks, with Next shares leading gains on an upbeat profit outlook, while investors braced for a slew of central bank policy decisions.
Next Plc shares climbed 3.6% to the top of the FTSE 100 after the clothing retailer raised its annual profit outlook for the fourth time in six months.Investors will be scrutinising the U.S. Federal Reserve's interest rate decision later in the day and the Bank of England's monetary policy meeting on Thursday. Both central banks are widely expected to keep interest rates steady.
On the data front, British house prices unexpectedly rose by almost 1% last month, mortgage lender Nationwide said, while UK's factories suffered a worse October than previously thought, according to a survey. GSK shares ended 2.4% down, after gaining earlier in the session, as the drugmaker raised its full-year profit and sales forecasts for a second time.
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