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The Markets
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FTSE tentatively higher as GDP grows, Balfour Beatty soars on dividend hike - Market Report

FTSE tentatively higher as GDP grows, Balfour Beatty soars on dividend hike - Market Report

The FTSE 100 enjoyed gains on Wednesday morning as ONS data showed the UK economy had returned to growth at the start of the year.

GDP climbed by 0.2% in January, as construction output increased and the service sector grew, with the figures coming after the UK slipped into technical recession late last year.

Among companies, Metro Bank reported its first pre-tax profit in five years in a mixed report, which also noted an increase in cost-cutting targets.

Also reporting was Balfour Beatty, which soared after hiking dividend payments for the year and announcing a new buyback following stronger profits.

And finally, British American Tobacco said it had gained around £1.5 billion from the sale of a portion of its stake in Indian conglomerate ITC, with this set to fund buybacks.

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