Pennon Group slips on lower halfyear profit
Consumer discretionary stocks lead gains
Mining stocks climb
FTSE 100 up 0.4, FTSE 250 adds 0.2

Nov 30 Reuters The FTSE 100 edged higher on Wednesday, supported by consumer discretionary and energy stocks, even as investors maintained a cautious stance ahead of Federal Reserve Chair39;s speech for clues on the U.S. central bank39;s ratehike trajectory.

The bluechip FTSE 100 was up 0.4, as of 1018 GMT, and was set for its best month in two years. The domestically focused FTSE 250 midcap index gained 0.2.

British markets have sharply recovered from their October lows, when a bungled minibudget sent markets into a tailspin, as new leadership tries to restore investor confidence in the economy amid surging inflation and a severe costofliving crisis.

Hani Redha, portfolio manager at PineBridge Investments cites decreasing risk of energy rationing aiding views for cooling inflation.

There is a lot of room for inflation to come down, and that39;s what the market is picking up on and that has positive implications for consumer discretionary.

Shares of RollsRoyce rose 1.6 after Barclays initiated coverage of the automaker with an overweight, pushing the broader automobiles sector up 3.

Flutter Entertainment was among the biggest gainers in the consumer discretionary sector, up 1.9 after JP Morgan raised the stock39;s price target.

Energy stocks, along with precious and base metal miners were up around 1 each.

Focus has…