UK stocks rise as investors look to BoE for recovery cues

  • Reuters
  • Stock Market News
UK stocks rise as investors look to BoE for recovery cues
Credit: © Reuters.

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* FTSE 100 up 0.1%, FTSE 250 adds 0.3%

March 18 (Reuters) - UK stocks rose on Thursday, led by a rally in mining and bank stocks, while investors looked to the Bank of England's policy meeting for forecasts around the pace of Britain's economic recovery from the COVID-19 pandemic.

The blue-chip FTSE 100 index .FTSE climbed 0.1%, with mining stocks including Rio Tinto RIO.L , Glencore Plc GLEN.L and BHP Group (JO: BHPJ ) BHPB.L adding between 1% and 1.2%.

Bank stocks, mainly HSBC Holdings HSBA.L , Lloyds Banking Group LLOY.L and Barclays Plc BARC.L , were also among the biggest gainers.

The Bank of England is not expected to change its crisis-fighting stimulus programme at 1200 GMT and will probably try to keep a lid on expectations that the UK economy was heading for a strong, vaccine-boosted recovery after suffering its worst crash in three centuries last year. domestically focused mid-cap FTSE 250 index .FTMC rose 0.3%, led by industrials stocks.

Gambling group 888 Holdings 888.L rose 6.0%, after posting higher annual adjusted core earnings and signalling strong momentum in 2021 so far, as more people shifted to online betting during coronavirus restrictions. maker Fever-Tree FEVR.L fell 5.3%, despite a better 2021 revenue forecast with at-home drinking catching on and sales at lockdown-hit bars and restaurants expected to gradually gain momentum.

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