U.K. Stocks Inch Higher as BT Group, Commodity Producers Advanceby
British equities rose for the second time in three days amid gains in miners and BT Group Plc.
Fresnillo Plc, BHP Billiton Ltd. and Rio Tinto Group climbed more than 3 percent, and BT rose 3.2 percent as regulator Ofcom rejected calls for a breakup of the company. GKN Plc added 3.8 percent and Provident Financial Plc jumped 5.7 percent after reporting results, while Mondi Plc gained 4.3 percent as it said it sees a rise in underlying operating profit. BP Plc fell 1.3 percent after reporting a slump in profit, and Tesco Plc dropped 4.1 percent as researcher Kantar Worldpanel said sales declined in the 12 weeks to July 17.
The FTSE 100 Index added 0.2 percent at the close of trading in London. The gauge has alternated between daily gains and losses since last week, halting the strong rally that followed the slump after the vote to leave the European Union. Bank of England policy maker Martin Weale said Brexit has rattled the economy more than he anticipated and indicated he favors immediate stimulus. The FTSE 250 Index of mid-cap companies dropped 0.1 percent on Tuesday.
Ireland’s ISEQ Index slid 0.8 percent, while the regional Stoxx Europe 600 Index rose 0.1 percent.