FTSE Edges Higher as UK Business Confidence Hits New High

London stocks rose in early Friday trading, with the FTSE 100 and FTSE 250 indices both up 0.3%. European bourses outperformed, led by a 1% gain for the CAC 40 and 0.6% increase for the DAX.

The positive sentiment is attributed to UK business confidence reaching its highest level since March, according to Lloyds Bank's index, which climbed four points to +53% in August, above its 12-month average.

Oil prices were also supported by progress on reopening the Strait of Hormuz, with Brent down 0.6% at $87.97 and WTI off 0.8% at $82.90.