FTSE 100 Rises As Burberry Announces New Turnaround Plan

(RTTNews) - U.K. stocks eked out modest gains Thursday on the back of upbeat earnings news. The benchmark FTSE 100 was up 12 points, or 0.2 percent, at 8,042 after finishing marginally higher on Wednesday.

Burberry shares jumped nearly 15 percent after new CEO of the fashion brand, Joshua Schulman, pledged to "stabilize the business" with a turnaround plan.

Insurer Aviva surged 4 percent after a strong Q3 update, showing continued growth across various business lines.

Premier Foods added 1.6 percent after reporting higher first-half revenues and profits as consumers switched back to brands.

Vodafone was marginally higher as it increased the budget for its ongoing share buyback program by EUR 20 million, to a total of EUR 520 million.