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FTSE 100 trades higher ahead of rates decision; Renishaw soars on increased guidance - Market Report

FTSE 100 trades higher ahead of rates decision; Renishaw soars on increased guidance - Market Report

The FTSE 100 got off to a slow start, trading slightly higher ahead of the Bank of England's interest rate decision at lunchtime.

Just over an hour into trading, the blue chip index is up 12 points, or just over a tenth of a percent, at 8,572.

Renishaw is up strongly after it upped its guidance for full-year sales and profits. The engineering group is also introducing a surcharge to pass on the impact of additional costs from US tariffs.

Shares in Harbour Energy jumped 10% in early trade as the mid-cap oil company reported much stronger production, lower costs and tightened its guidance slightly upwards.

Holiday Inn owner Intercontinental Hotels has reported a solid first quarter, with good demand in Europe and the Middle East offseting a continued decline in China.

Next has beaten expectations for sales in its first quarter. While the fashion retailer has not changed its full-year sales guidance, it has nudged up its profit outlook.

And Centrica shares are down over 7% as the British Gas owner warned of lower profits in its energy trading business and higher losses for its storage arm.

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