# London’s FTSE 100 edges higher, set for fourth weekly gain Author: Pal Sinha, Barnali Author URL: https://financedigest.com/author/pal-sinha-barnali Published: 2023-04-14 Category: INVESTING Category URL: https://financedigest.com/category/investing Meta Title: FTSE 100 up, set for fourth weekly gain Meta Description: FTSE 100 up 0.2%, driven by healthcare, consumer staples; Mid-cap FTSE 250 adds 0.9%. Investors favour recession-proof sectors. Industrial miners lift index. URL: https://financedigest.com/londons-ftse-100-edges-higher-set-for-fourth-weekly-gainhtml ![undefined](https://prod.superblogcdn.com/site_cuid_cm5qst7v3003gwirgwqtxn8i8/images/2023-04-14t074328z1lynxmpej3d07irtroptp4europe-volatility-exchanges-1736814149012-compressed.jpg) # London’s FTSE 100 edges higher, set for fourth weekly gain By Shristi Achar A (Reuters) -Britain’s FTSE 100 inched up on Friday and was set for a fourth straight weekly gain, boosted by shares of pharmaceuticals and consumer staple firms, while miners tracked copper prices higher. The blue-chip FTSE 100 edged up 0.2%, while the mid-cap FTSE 250 added 0.9% as of 0816 GMT. Healthcare stocks added 0.9%, with Dechra, jumping 36.2% after the British veterinary pharmaceuticals maker said it had entered into talks with [private equity](https://www.financedigest.com/4-trends-that-will-have-a-major-impact-on-private-equity-in-2021.html "4 Trends that will have a major impact on private equity in 2021") group EQT for a possible offer in a 4.63 billion pounds ($5.80 billion) all-cash deal. [Consumer staples](https://www.financedigest.com/consumer-staples-banks-lift-uks-ftse-100-after-sharp-selloff.html "Consumer staples, banks lift UK’s FTSE 100 after sharp selloff") British American Tobacco Plc and Diageo Plc rose 0.6% and 0.4%, respectively. Investors just seem to be gravitating to companies that aren’t overly cyclical, have strong dependable margins, like consumer staples, healthcare and luxury companies,” said Patrick Armstrong, [chief investment officer](https://www.financedigest.com/host-analytics-appoints-chris-labruna-as-chief-revenue-officer.html "Host Analytics Appoints Chris LaBruna as Chief Revenue Officer"), Plurimi Wealth. These are companies aren’t really driven by the [lower end consumer](https://www.financedigest.com/britains-next-sees-lower-profit-in-2023-as-consumer-outlook-darkens.html "Britain’s Next sees lower profit in 2023 as consumer outlook darkens"), they have stable cash flows, revenues and would be less at risk if we do fall into a recession. Firm [copper prices lifted industrial miners](https://www.financedigest.com/copper-miner-teck-resources-rejects-glencores-22-5-billion-offer.html "Copper miner Teck Resources rejects Glencore’s .5 billion offer") 0.3%. \[MET/L\] Oil and gas stocks, however, slipped 0.3%, tracking weakness in oil [prices](https://www.financedigest.com/oil-prices-stable-heading-for-weekly-gain.html "Oil prices stable, heading for weekly gain") after the International Energy Agency warned that output cuts announced by OPEC+ producers could exacerbate an oil supply deficit and hurt consumers. \[O/R\] FTSE 100 is set for a 1.5% week jump, with gains in industrial miners boosting the resource-rich index, while investors have also taken interest in recession-safe [sectors including consumer](https://www.financedigest.com/consumer-durables-sector-still-feeling-the-effects-of-recession.html "Consumer durables sector still feeling the effects of recession") staples and pharmaceuticals. Among other major movers, Superdry tumbled 17.4% after the struggling fashion brand said a potential equity raise of up to 20% was among funding [options being considered](https://www.financedigest.com/3-options-to-consider-when-you-owe-the-irs-back-taxes.html "3 Options to Consider When You Owe The IRS Back Taxes"). AO [World Plc soared 10.9% after the online electricals retailer said it expected its annual profit to be around the top](https://www.financedigest.com/top-5-restaurants-in-the-world.html "Top 5 restaurants in the world") end of its forecast. 888 Holdings surged 16.3% after the [bootmaker forecast a higher adjusted core profit](https://www.financedigest.com/bootmaker-dr-martens-warns-on-profit-as-finance-chief-walks.html "Bootmaker Dr Martens warns on profit as finance chief walks") for 2023. (Reporting by Shristi Achar A in Bengaluru; Editing by Subhranshu Sahu and Rashmi Aich) --- This blog is powered by Superblog. Visit https://superblog.ai to know more. ---