FTSE 100 Gains Ahead Of Budget Statement

(RTTNews) - U.K. stocks rose slightly on Wednesday as Chancellor Jeremy Hunt delivers his 2024 Budget, with measures including further tax cuts and public spending reductions widely expected.

The benchmark FTSE 100 was up 16 points, or 0.2 percent, at 7,662 after finishing marginally higher the previous day. In corporate news, life insurer Legal & General tumbled 3.3 percent after posting flat operating profit for 2023.

Ricardo, a sustainable energy company, rose more than 2 percent after narrowing its first-half loss.

Paperboard and packing producer DS Smith added about 1 percent after it showcased a resilient Q3 with a positive outlook and strategic focus on pricing, efficiency, and sustainable solutions.

Tullow Oil lost nearly 4 percent after its pretax profit slumped on lower oil prices and impairments.