FTSE Edges Higher As Bank Stocks Rise
(RTTNews) - U.K. stock market's benchmark FTSE 100 moved modestly higher on Tuesday on selective buying as investors assessed the prospects of more monetary easing by major central banks, and digested the nation's latest economic data. Bank stocks moved higher on strong buying support.
The FTSE 100, which advanced to 9,745.31, was up 25.93 points or 0.27% at 9,728.46 nearly half an hour past noon.
Lloyds Banking Group, Barclays and Standard Chartered gained 1.4 to 1.7%. Natwest Group and HSBC Holdings were also notably higher.
Land Securities climbed about 2.3%. Metlen Energy & Metals, Segro, Entain, Persimmon, Polar Capital Technology Trust, Tesco, BT Group, Marks & Spencer, Prudential, National Grid, LondonMetric Property, SSE, Rolls-Royce Holdings, Vodafone Group and Intercontinental Hotels moved up 1 to 2%.
Berkeley Group Holdings lost nearly 2%. Endeavour Mining, Auto Trader Group, Rightmove, Barratt Redrow,The Sage Group, Experian and BAE Systems were down 0.8 to 1.4%.
In economic news, U.K. house prices logged a faster-than-expected growth in November despite budget uncertainty, data from the Nationwide Building Society showed.
House prices grew 1.8% on a yearly basis in November, slower than the 2.4% increase seen in October. Nonetheless, the annual growth was faster than the forecast of 1.4%.
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