UKX FTSE 100 Index

By Mark DeCambre, MarketWatch

Royal Mail shares were among the biggest gainers in the FTSE 100

The U.K.'s main equity bourse on Thursday was trading slightly higher, benefiting partly from lackluster trade in the British pound amid persistent worries about the outcome of testy negotiations as Britons attempt to exit from the EU.

The U.K.'s FTSE 100 was gaining 0.3% at 7,070.90, after finishing Wednesday's session 0.1% lower.

The British poundwas at $1.3113, little changed from $1.3114 seen late Wednesday in New York. Against the euro , the pound weakened, changing hands at GBP0.8786, versus GBP0.8769 on Wednesday.

Traders were following reports (https://www.theguardian.com/politics/2018/oct/17/theresa-may-signals-willingness-to-extend-transition-period) that U.K. Prime Minister Theresa May was considering a longer transition period within the EU as Britain attempts to break an impasse in talks to forge a new relationship with Europe's trade bloc.

What are strategists saying?

"In London, the FTSE 100 continues to post small moves between 7000.0pts and 7065.0pts. This lack of clear direction is mostly due to the deadlocked Brexit's negotiations, an environment in which traders remain cautious to avoid getting burnt," wrote Pierre Veyret, technical analyst at ActivTrades in a Thursday research note.

Which data were in focus?

U.K. retail sales fell in September, (http://www.marketwatch.com/story/uk-retail-sales-fall-in-september-2018-10-18) a sign British consumers are paring back spending after a strong summer for retailers. The Office for National Statistics said Thursday that retail sales declined 0.8% on the month in September, reflecting a drop in spending at food stores, department stores and online.

Stocks to watch

Unilever PLC's stock fell (ULVR.LN) on Thursday even as the maker of Breyers ice cream and Dove shampoo sold more products at higher prices, helping it deliver stronger third-quarter revenue growth (http://www.marketwatch.com/story/unilever-revenue-up-on-better-volumes-pricing-2018-10-18).

Shares of Royal Mail PLC(RMG.LN) were among leading gainers on the London bourse, up 3%, while those for building-materials company CRH PLC were trading sharply lower to lead losers, off 5.6%.

(END) Dow Jones Newswires

October 18, 2018 05:54 ET (09:54 GMT)

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