UK’s main stock indexes climbed on Thursday, underpinned by industrial metal miners tracking commodity prices higher, while investors awaited US inflation data that could provide more clues on the Federal Reserve’s interest rate trajectory.
The blue-chip FTSE 100 was up 0.5%, as of 0810 GMT, and the midcap FTSE 250 index climbed 0.3%.
Industrial metal miners gained the most among sectors, with a 1.4% jump, as prices of base metals rose on a softer dollar and Chinese government support for the yuan.
Shares of Tesco rose 1% after Britain’s biggest retailer upgraded its profit outlook for the second time in four months.
Tesco reported a better-than-expected rise in underlying UK sales for the key Christmas trading period.
UK’s FTSE 100 falls on losses in non-life insurers, Sainsbury’s
Marks & Spencer slipped 5% to the bottom of the FTSE 100 even as the British retailer reported a better-than-expected jump in like-for-like sales over the Christmas trading period.
WPP fell 1.8% as it is considering the sale of its 40% stake in Kantar, which could be valued at up to $8 billion including debt.
Investors’ focus is also on the US consumer price index data for December, due at 1330 GMT, to gauge how soon the Fed will start its monetary policy easing, which could influence interest rates globally.
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