FTSE 100 Gains As Next Raises Profit Forecast

(RTTNews) - U.K. stocks traded slightly higher on Thursday after retail giant Next hiked its profit outlook for the fifth time this year.

The benchmark FTSE 100 was up 18 points, or 0.2 percent, at 7,700 after dropping half a percent on Wednesday.

Energy stocks rallied, with BP Plc climbing 1.2 percent and Shell adding 1 percent, after oil prices settled about 3 percent higher overnight on supply concerns.

Next Plc shares soared 4.7 percent. The retailer raised its pretax profit guidance after sales in the pre-Christmas business period exceeded expectations.

JD Sports Fashion slumped 21 percent after lowering its full-year profit forecast.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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