FTSE 100 opens higher, Informa leads gains

(Reuters) – UK’s export-oriented FTSE 100 edged higher on Monday as a weaker pound offered support, with shares of Informa jumping to the top of the index after an upbeat earnings outlook.

The blue-chip FTSE 100 was up 0.5% by 0807 GMT. The domestically-focused FTSE 250 midcap index rose 0.1% after logging its best week in almost two years.

British events organiser Informa Plc jumped 6.2% after it raised its full-year earnings outlook.

The pound dipped against a steadying dollar after Federal Reserve Governor Christopher Waller said on Sunday that the central bank was not softening its fight against inflation. [FRX/]

British miners gained 1.4%.

Meanwhile, Finance Minister Jeremy Hunt said on Sunday he will set out tax rises and spending cuts ahead of this week budget’s release.

(Reporting by Shashwat Chauhan in Bengaluru; editing by Uttaresh.V)