FTSE 100 Inches Higher Ahead Of BoE Bailey Testimony
(RTTNews) - U.K. stocks rose on Tuesday as banking concerns eased and a recovery in crude prices lifted commodity stocks.
Meanwhile, U.K. shop prices logged another record increase in March due to the historical growth in food and non-food prices, data from the British Retail Consortium showed earlier today.
The BRC- NielsenIQ shop price index increased 8.9 percent on a yearly basis in March, faster than the 8.4 percent rise in February.
The annual growth was primarily driven by another record 15.0 percent growth in food prices. Non-food prices also posted a record gain of 5.9 percent.
The benchmark FTSE 100 was up 23 points, or 0.3 percent, at 7,493 ahead of testimony to Parliament about Silicon Valley Bank by the governor of the Bank of England.
Miners Anglo American and Glencore rose over 1 percent each while oil & gas firm BP Plc jumped 1.7 percent and Shell added 1.3 percent.
Banks HSBC, Barclays and Lloyds Banking were seeing modest gains.
Online supermarket Ocado tumbled 4 percent after keeping its profit guidance for the full year.
Beverage firm Diageo shed 1 percent on news that CEO Ivan Menezes will retire at the end of June.
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