London stocks edged higher in early trade on Wednesday but markets lacked any real direction, with many traders away from their desks for the half-term holiday.
At 0850 BST, the FTSE 100 was 0.4% higher at 7,105.56.
Spreadex analyst Connor Campbell said: “Though it couldn’t match yesterday’s growth, the FTSE’s early gains still lifted it to a recent high.”
He noted that the top-flight index is now above 7,100 for the first time since 10 May and only 70 or so points from matching the 14-month peak struck on that date.
“Looking at the trading landscape this Wednesday, however, and a low energy open may make it difficult for the FTSE to significantly make strides towards those levels,” he said. “Wednesday could be a day where the markets tread water, saving their energies for the US jobs focused sessions on Thursday and Friday, which bring the unemployment claims and latest non-farm data respectively.”
On the UK macro front, consumer credit, mortgage approvals and M4 money supply figures for April are all due at 0930 BST.
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