UKX FTSE 100 Index

By Carla Mozee, MarketWatch

U.K. stocks clung to thin gains Thursday, but the overall move for the benchmark FTSE 100 was muted a day after the U.K. formally started the process of leaving the European Union.

The FTSE 100 index was up 0.1% at 7,383.11, led by oil and gas, health care and consumer services shares. The index on Wednesday finished up 0.4% as the pound finished lower after the U.K. government handed in its formal letter stating its intent to exit the EU.

Sterling on Thursday was buying $1.2413, down from $1.2435 late Wednesday.

The U.K. government, led by Prime Minister Theresa May, is expected on Thursday to publish a White Paper to discuss how it will implement legislation aimed at converting exiting European Union law into U.K. law.

Read:Brexit -- here's what happens now that the U.K. has triggered Article 50 (http://www.marketwatch.com/story/brexit-heres-what-happens-now-that-the-uk-has-triggered-article-50-2017-03-29)

And see:'We already miss you,' EU president Tusk tells U.K. after Brexit letter (http://www.marketwatch.com/story/we-already-miss-you-eu-president-tusk-tells-uk-after-brexit-letter-2017-03-29)

Movers: Ashtead Group PLC (AHT.LN) pushed up 2.6% to the top of the FTSE 100, rising after coverage of the equipment-rental company was started with a buy rating at Liberum, with a GBP19.40 price target.

"The upside potential from increased rental penetration in the U.S. market is yet to be fully reflected in Ashtead's share price, in our view," said Liberum analyst Rahim Karim in a note.

SSE PLC shares (SSE.LN) fell 2.4% after the gas and electricity supplier said lower operating profit from its networks unit (http://www.marketwatch.com/story/sse-lower-networks-profit-to-weigh-on-dividend-2017-03-30) would weigh on its dividend cover.

London Stock Exchange Group PLC (LSE.LN) picked up 0.8% as the exchange operator said it plans to buy back shares worth a total of GBP200 million. The move comes after the company's $28 billion planned merger with Deutsche Börse AG was blocked Wednesday by the European Union's antitrust watchdog. (http://www.marketwatch.com/story/eu-blocks-lse-deutsche-borse-merger-2017-03-29-54851952)

Imperial Brands PLC (IMBBY) was up 0.3% after the tobacco maker held to its fiscal 2017 earnings target (http://www.marketwatch.com/story/imperial-keeps-earnings-target-to-invest-300-mln-2017-03-30)and said it would invest an additional 300 million pounds ($374.1 million) in the current year.

(END) Dow Jones Newswires

March 30, 2017 05:09 ET (09:09 GMT)

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