UK equities rise on upbeat earnings, Watches of Switzerland slumps By Reuters

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© Reuters. Signage for the London Stock Exchange Group is seen outside of offices in Canary Wharf in London, Britain, August 3, 2023. REUTERS/Toby Melville/File Photo

By Khushi Singh

(Reuters) -British equities rose on Thursday, supported by a string of upbeat earnings from companies such as Flutter and Ferrexpo (LON:), while shares of Watches of Switzerland slumped after a bleak forecast, adding to fears about a luxury sector slowdown.

The exporter-heavy ended 0.2% higher, recovering from a three-day slide.

Meanwhile, the mid-cap added 0.4%, its biggest gain in more than a week.

Flutter surged 15.3%, to the top of FTSE 100 after the online betting group reported a 15% rise in fourth-quarter revenue.

Rival Entain (LON:) also rose 6.1%, while the broader travel and leisure index surged 6.7%, touching its highest level since August 2023.

Currys (LON:) climbed 8.6% after the appliance and electronics retailer forecast…

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