Banks, miners boost UK stocks as recovery optimism back in focus

  • Reuters
  • Stock Market News
Banks, miners boost UK stocks as recovery optimism back in focus
Credit: © Reuters.

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* Both FTSE 100 and FTSE 250 rise 0.6%

March 30 (Reuters) - British shares rose on Tuesday, boosted by gains in banks and miners as investors turned their focus to vaccine-led economic recovery optimism, while Royal Mail climbed after announcing a one-off dividend payment.

The blue-chip FTSE 100 index .FTSE was up 0.6%, with bank and mining stocks including HSBC Holdings HSBA.L , Barclays BARC.L , Prudential Financial (NYSE: PRU ) PRU.L , Rio Tinto RIO.L , Anglo American (JO: AMSJ ) AAL.L and BHP BHPB.L being the biggest gainers.

Oil heavyweights BP BP.L and Royal Dutch Shell RDSa.L were also among the biggest boosts, rising between 0.5% and 1%.

Bank of England rate-setter Gertjan Vlieghe said Britain's economy would still need help from the central bank to restore it to its pre-pandemic growth path, even with a fast recovery and some inflation this year. domestically focused mid-cap FTSE 250 index .FTMC climbed 0.6%, led by industrials stocks.

Imperial Brands Plc IMB.L fell 0.7%, even after maintaining its full-year adjusted profit growth forecast, as it expected "significantly reduced" losses from next generation products and increased investments in its business. Mail RMG.L added 2.8%, after saying it would pay a one-off dividend for the year ending March following recent upgrades to its financial outlook on the back of a surge in parcel demand during the pandemic and a recent pick-up in letter volumes.

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