The FTSE 100 increased by 0.2%, boosted by positive results from Haleon and Ocado. Haleon's shares rose by 6.9% as the company reported an increase in revenue and pretax profit for 2023. Ocado's stock increased by 6.2% after the online grocer reported a narrower pretax loss for the year and forecast stronger growth for the current financial year.

In other corporate news, PPHE Hotel Group announced a surge in profit and revenue for the full-year 2023, with profit attributable to equity holders at 22.4 million pounds sterling, up from 10.2 million pounds, and revenue jumping to 414.6 million pounds from 330.1 million pounds. The company expects 2024 revenue to align with analyst consensus.

CVS Group (CVSG.L) also logged a decrease in profit for the fiscal first half, with profit attributable to shareholders at 14.6 million pounds, down from 21.1 million pounds, while revenue increased to 329.9 million pounds from 296.3 million pounds.

Vesuvius reported a decrease in profit and revenue for full-year 2023, with profit attributable to owners at 118.5 million pounds, down from 181.1 million pounds, and revenue decreasing to 1.93 billion pounds from 2.05 billion pounds.

London Stock Exchange reported a decrease in pretax profit to GBP 1.195 billion from GBP 1.24 billion, despite an increase in total income to GBP 8.009 billion from GBP 7.43 billion. The company plans to execute a GBP 1.0 billion buyback program in 2024.

GXO Logistics made a rival bid for Wincanton valued at approximately 762 million pounds offering 605 pence per share, which is 26% higher than the bid made by CEVA Logistics.

Elsewhere, Japanese industrial production saw its most significant drop since the pandemic, falling by 7.5% in January, which adds to the economic challenges as the country faces a recession. Meanwhile, the US PCE price index for January, the Federal Reserve's preferred inflation indicator, is expected to provide insights into the future path of US interest rates.

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