The UK’s blue-chip share index rose on Tuesday, extending an early-week bounce, as investors assessed earnings reports and as hopes of support for China’s equity markets boosted metal miners.
The FTSE 100 index of top UK companies climbed 0.3% by 0808 GMT, rising for a fourth consecutive day, while the FTSE 250 midcap index added 0.3%.
Miners such as Rio Tinto, Glencore and Anglo American rose in the range of 1.7% and 2.2% as most metal prices climbed on report that Chinese authorities were considering to mobilise about 2 trillion yuan ($278.9 billion) to stabilise the slumping stock market.
Premier Foods inched up 0.3% as the food producer reported a 14.4% jump in third-quarter sales, helped by strong festive demand for its products.
The stock touched a more than 12-year high at the market open.
FTSE struggles to shake off gloom, Watches of Switzerland sinks
Associated British Foods was nearly flat after the retailer said underlying sales growth slowed at its Primark clothing business in the Christmas quarter and the company cautioned it could face additional costs due to the disruption in the Red Sea.
Crest Nicholson gained 2.2% after the housebuilder reiterated its forecast of an encouraging calendar year despite a bigger-than-expected fall in its 2023 profit.
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