July 10, 2013 / 7:17 AM / 5 years ago

Burberry leads UK FTSE higher after sales beat

LONDON, July 10 (Reuters) - Britain’s benchmark equity index edged higher early on Wednesday, led by luxury brand Burberry after it reported better-than-expected quarterly sales.

Shares in Burberry rose 6 percent as the company posted a 18 percent rise in first quarter underlying retail revenue, driven by robust demand for spring/summer fashion.

It was the top riser on the FTSE 100, which was up 7.22 points, or 0.1 percent, at 6,520.30 points, adding to a one month high set the day before.

But gains were capped by falls in materials stocks, which knocked 2.7 points off the FTSE after China, the world’s largest consumer of metals, reported unexpected falls in imports and exports and warned about a gloomy trade outlook. (Reporting By Francesco Canepa; Editing by Alistair Smout)

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