FTSE 100 Edges Higher As Standard Chartered Unveils $1 Bln Share Buyback

(RTTNews) - U.K. stocks traded higher on Friday after Standard Chartered reported a better-than-expected 19 percent jump in full-year profits.

Investors ignored survey data from GfK showing that U.K. consumer confidence dropped in February on weak economic conditions.

The consumer sentiment index fell to -21 in February from -19 in January. The score was seen at -18.

The benchmark FTSE 100 was up 0.1 percent at 7,694 after edging up 0.3 percent on Thursday.

Standard Chartered jumped 6.5 percent. The lender announced a $1 billion share buyback after posting quarterly earnings that beat estimates.

Aerospace and defense group Chemring dropped 1.2 percent after keeping expectations for fiscal 2024 performance unchanged.