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U.K. stocks traded higher on Thursday while the British pound edged lower against peers after data showed the U.K. economy<\/span> contracted in the fourth quarter, as initially estimated.<\/p>\n Gross domestic product fell by unrevised 0.3 percent after a 0.1 percent drop in the third quarter, according to final data from the Office for National Statistics.<\/p>\n The statistical office thus confirmed a technical recession towards the end of 2023. Consequently, the economy grew only 0.1 percent in 2023, much weaker than the 4.3 percent expansion seen in 2022.<\/p>\n Compared with the same quarter a year ago, real GDP declined 0.2 percent in the fourth quarter.<\/p>\n The benchmark FTSE 100 was up 23 points, or 0.3 percent, at 7,954 after finishing marginally higher in the previous session.<\/p>\n JD Sports Fashion jumped 6 percent. The retailer of sports, fashion and outdoor brands said it expects full-year profit before tax and adjusted items to be in line with its outlook of 915 million pounds- 935 million pounds.<\/p>\n Spirent Communications soared 11 percent as the telecommunications firm agreed to Keysight Technologies’ offer valuing the firm at 1.16 mln pounds ($1.46 bln). <\/p>\n<\/p>\n Market Analysis<\/p>\n<\/div><\/div>\n