U.K. stocks rose on Tuesday, with miners and banks leading the surge following another session of solid gains on Wall Street overnight.
The benchmark FTSE 100 climbed 66 points, or 0.9 percent, to 7,530 after ending flat with a negative bias the previous day.
Barclays and Lloyds Banking Group both gained over 1 percent as yields rose amid expectations of interest rate increases.
Two-year yields on British bonds hit their highest since 2011 amid expectations for a 50-basis-point rate hike from the Bank of England, its second increase in under two months.
Stronger copper and gold prices helped lift miners, with Anglo American and Glencore rising over 2 percent each.
Oxford Biomedica advanced 1.5 percent. The gene and cell therapy company said that Sio Gene Therapies has informed that it intends to return the global rights for AXO-Lenti-PD, a gene therapy, and cease its ongoing work on Parkinson’s disease using the therapy.
Cineworld lost about 2 percent after saying it has started discussions with dissenting shareholders of Regal Entertainment Group over a potential rescheduling of the cinema operator’s payment obligations.
FTSE 100 Rises Led By Banks And Miners
2022-02-01 09:33:03
