HSBC down on trading exdividend
Haleon, Beazley down after results
CRH tops FTSE 100 on buyback plans
FTSE 100 up 0.4, FTSE 250 down 0.1

March 2 Reuters UK39;s FTSE 100 reversed early losses on Thursday as a weak pound boosted the exportheavy index, while declines in stocks trading exdividend and weak earnings from the likes of Haleon and Beazley kept gains in check.

The bluechip FTSE 100 closed 0.4 higher, rising for the second session.

Sterling fell against the dollar on expectations of a more hawkish Federal Reserve following hotterthanexpected U.S. labour market data and Bank of England Governor Andrew Bailey on Wednesday indicating a possible end to its rate hiking cycle.

BoE Chief Economist Huw Pill said on Thursday the British economy is showing slightly more momentum than expected and pay growth is proving a bit faster than anticipated amid easing threats of a deep recession.

A weaker pound is helping the FTSE in a way, but market is just recovering some momentum after Tuesday39;s drop said Daniela Hathorn, senior market analyst at Capital.com.

We39;re struggling to find direction.

Exportheavy consumer staples stocks such as Diageo and Unilever also gained momentum.

The FTSE 100 has had a strong start to the year, clocking its best February performance since 2019, on upbeat corporate results and a recovery in commodity prices on hopes of improving Chinese demand.

Among individual stocks, HSBC fell 3.3, taking the broader banking index down 2.3 as it…