UK's FTSE 100 rose on Thursday as gains in commodity stocks outweighed losses in retailers such as Tesco, while investors globally awaited U.S. data to see if inflation has slowed.
The blue-chip FTSE 100 (.FTSE) gained 0.6% by 0830 GMT, while the more domestically focused FTSE 250 mid-cap index (.FTMC) rose 0.6%.
Tesco (TSCO.L) lost 1.3% after Britain's biggest retailer kept its full-year guidance, though the company's chief executive said inflation may have not peaked "just yet."
Strong Christmas sales did little to aid Marks & Spencer shares (MKS.L), which fell 1.3%, as the retailer remained cautious about "clear macro-economic headwinds ahead and underlying cost pressures."
Investors keenly await U.S. inflation data later in the day, a critical pit stop before the U.S. Federal Reserve's February rate-hike decision.
Materials stocks took an early lead, with industrial (.FTNMX551020) and precious (.FTNMX551030) metal miners rising 0.5% and 1.1%, respectively.
Centrica (CNA.L) climbed to the top of FTSE 100, jumping 5.5% after the British Gas owner raised its full-year earnings forecast.
Halfords (HFD.L) slumped 19.4% after the motoring and cycling parts retailer trimmed its annual profit outlook.
