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FTSE 100 rises ahead of Budget

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The UK market opened higher as investors waited for the chancellor’s Budget speech, due at 12:30 GMT.The benchmark FTSE 100 share index rose 18.04 points to 7,429.38.Broker upgrades were behind some of the biggest movers on the index. B&Q owner Kingfisher rose 2.4% after analysts at Jefferies upgraded their rating on the company to “buy”.Reckitt Benckiser climbed 2.3% after its rating was raised to “overweight” by analysts at JP Morgan.However, outside the FTSE 100 shares in Thomas Cook dived 10% after the travel company said profits at its UK division had fallen 40% following “challenging” trading.The news knocked shares in rival tour operator TUI, which fell 2.6%.On the currency markets, the pound rose 0.1% against the dollar to $1.3251 but fell 0.1% against the euro to €1.1262.
Source: BBC