Nov 21 (Reuters) - The UK's blue-chip FTSE 100 rose to a near two-week high on Thursday, as a dip in sterling and rise in Halma's shares offset a slump in JD Sports after it issued a profit warning.
The FTSE 100 (.FTSE), closed up 0.8%, its strongest level since Nov. 8.
Shares of international, dollar-earning firms such as AstraZeneca (AZN.L), Shell (SHEL.L), and BP (BP.L), rose as sterling slumped to a six-month low against the dollar.
Halma rose 5.7% after the health and safety device maker posted growth in half-year revenue and profit.
In contrast, JD Sports Fashion (JD.L), plunged 15.5% after it warned annual profit would come in at the lower end of its guided range after a tough October of discounting, mild weather and consumer caution.
"JD Sports' goal of scoring 1 billion pounds in annual profits has been kicked down the road for the second year in a row," said Dan Coatsworth, investment analyst at AJ Bell.
"Some may view this 1 billion pound figure as merely symbolic, but breaching this barrier is no mean feat and demonstrates a retailer has a lasting place in consumers' affections and the scale to win in a competitive marketplace."
Meanwhile, Britain's midcap index (.FTMC), rebounded 0.5% from a three-month low hit earlier in the session.
Ithaca Energy (ITH.L), announced a special dividend of $200 million for 2024, representing $0.1209 per ordinary share. The North Sea oil and gas firm's shares jumped 9.2% to the top of the midcap index.
CMC Markets (CMCX.L), tumbled 14.7% after the trading platform reiterated its net operating income forecast for the year ending March 2025, disappointing investors who had expected an upgrade.
Data showed Britain borrowed more than expected in October, highlighting the challenge facing finance minister Rachel Reeves who says she will fix the public finances as well as increase spending sharply.
British inflation jumped by more than expected last month to rise back above the Bank of England's 2% target, numbers on Wednesday showed, prompting traders to price in a slightly slower pace of rate cuts.
Investors expect the BoE to hold rates next month but see cuts of about 67 basis points by the end of next year.
Reporting by Sruthi Shankar in Bengaluru; Editing by Saumyadeb Chakrabarty and Alex Richardson
