Banks, mining stocks lift FTSE 100 to one-week high on stimulus hopes

  • Reuters
  • Stock Market News
Banks, mining stocks lift FTSE 100 to one-week high on stimulus hopes
Credit: © Reuters.

* FTSE 100 up 1.3%, FTSE 250 adds 1.2%

Nov 3 (Reuters) - London's FTSE 100 rose on Tuesday, getting a boost from financial and mining stocks as investors bet on more stimulus measures to soften the economic impact from a second wave of new coronavirus infections.

The commodity-heavy FTSE 100 index .FTSE gained 1.3%, bolstered by banks .FTNMX8350 and energy .FTNMX0530 stocks, while the domestically focussed mid-cap FTSE 250 .FTMC added 1.2%.

Mining .FTNMX1770 stocks climbed 1.9% - tracking higher metal prices.

European shares .STOXX also tracked a rally in Asia ahead of Election Day in the United States. .EU

The Reserve Bank of Australia trimmed interest rates to near zero on Tuesday and expanded its bond-buying programme, with dealers expecting a similar asset purchase pump by the Bank of England in its policy meeting on Nov. 5 to stem a faltering economic recovery. company news, Crest Nicholson Holdings Plc CRST.L jumped 13.2% after the homebuilder forecast annual profit ahead of market expectations and reinstated dividends due to a strong recovery in the housing market. wider homebuilding sub-index .FTNMX3720 gained 1.6%.

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