(Reuters) -Britain’s FTSE 100 hit a record closing high on Thursday, propelled by defence and financial sector gains, while investors assessed key economic data.
The blue-chip index gained for a fourth consecutive day, ending up 0.1%. The midcap index declined 0.2%.
Investors responded positively to UK second-quarter GDP figures, which showed that growth slowed less than expected despite U.S. trade tariffs and a weaker jobs market.
While Wall Street retreated following unexpectedly high U.S. producer price inflation data – dampening hopes for Federal Reserve interest rate cuts – the UK benchmark remained resilient.
The aerospace and defence index provided a boost, rising 2%.
Financials added further support as insurer Aviva jumped 2.5% to a 17-year high after raising its interim dividend and reporting a 22% increase in half-year operating profit, boosting the life insurers’ index 1.5%.
The non-life insurers index advanced 1.9%, with Admiral Group rising 6.6% after reporting a 67% jump in half-year pretax profit.
British Gas owner Centrica rose 3.7% after announcing it would jointly buy National Grid’s Grain LNG terminal with U.S.-based Energy Capital Partners for about 1.5 billion pounds ($2 billion).
On the flip side, the energy sector fell 1.4%.
Harbour Energy led the losses, falling 4.8%, while oil major Shell fell over 1%.
Industrial metal miners also retreated 2.3%.
Some major names, including HSBC, BP, Hikma Pharmaceuticals and Hiscox, fell close to 1% as their shares went ex-dividend – trading without entitlement to the latest dividend payout.
Among other movers, technical products distributor Diploma fell 2.9% after finance chief Chris Davies stepped down.
($1 = 0.7365 pounds)
(Reporting by Ragini Mathur in Bengaluru. Additional reporting by Rashika Singh. Editing by Sahal Muhammed and Mark Potter)
