UK stocks edged up on Wednesday, as investors refrained from making big bets ahead of inflation data in the United States, while aerospace firm Melrose rose to its highest in more than three years after forecasting sales in-line with expectations.
Melrose Industries Plc (MRON.L) said it will continue as a pure-play aerospace company after the recent spin-off of its automotive unit, sending its shares 5.8% higher.
The blue-chip FTSE 100 (.FTSE) rose 0.1%, with rate-sensitive banks (.FTNMX301010) adding 0.5%.
Investors now eye April consumer inflation data in the world's largest economy, due at 1230 GMT, which could impact rate-cut expectations by the Federal Reserve this year.
The mid-cap FTSE 250 (.FTMC) added 0.1% by 0719 GMT, with ASOS Plc (ASOS.L) among top losers. The retailer swung to a first-half loss, hurt by a squeeze on household budgets and elevated product returns, sending its shares 7% lower.
