U.K. stocks were off their day’s highs on Tuesday and bond yields started to rise again after the Bank of England disputed a report that it will further delay its quantitative tightening program.
The benchmark FTSE 100 was up 0.6 percent at 6,958 after closing 0.9 percent higher on Monday.
Shares of Lookers Plc surged 6.5 percent after the automotive retail and service group said it now expects underlying profit before tax for 2022 to be ahead of its previous expectations following strong trading in its third quarter.
Rio Tinto dropped 1 percent after the mining giant projected annual iron ore shipments at the lower end of its forecast.
Housebuilders declined, with Bellway falling 1.2 percent after it warned of a potentially shrinking market.
FTSE 100 Pares Early Gains
2022-10-18 09:31:51
