U.K. stocks were moving higher on Tuesday after Treasury Secretary John Glen said in a statement he is starting to see green shoots of economic recovery.
The U.K. unemployment rate dropped 0.3 percentage points quarterly to 4.7 percent in three months to April as expected, official data showed earlier today. The employment rate rose 0.2 percentage points to 75.2 percent as the economy began to reopen.
Meanwhile, after agreeing to a historic trade deal with Australia, Prime Minister Boris Johnson said the new post-Brexit free trade deal marked a “new dawn” in the relationship between the two countries.
The benchmark FTSE 100 edged up 31 points, or 0.4 percent, to 7,177 after closing 0.2 percent higher on Monday.
Primark owner Associated British Foods rallied 2.6 percent after a positive first-quarter update from fast fashion retailer Boohoo.
Bellway Plc., a residential property developer, was marginally higher after reporting strong sales demand in the period from February 1 to June 6.
Equipment rental group Ashtead advanced 1.4 percent after reporting a doubling in profits in the fourth quarter of the year.
Subprime lender Non-Standard Finance plummeted 10 percent after announcing a share sale.
Investors await the outcome of a two-day policy meeting of the Federal Reserve starting later in the day for indications of the central bank’s view on recent inflation rises.
Market Analysis
FTSE 100 Edges Higher On Economic Optimism
2021-06-15 09:45:04
