FTSE 100 Extends Recent Gains
(RTTNews) - The U.K. stock market gained ground in positive territory on Tuesday, extending recent gains, as declining oil prices and lower global bond yields lifted sentiment.
Miners and financials stocks moved higher, contributing significantly to market's rise.
The FTSE 100, which advanced to 10,602.25, was up 45.81 points or 0.44% at 10,543.75 a few minutes past noon.
Informa jumped 3.7%. The publishing and exhibitions company's shares rose after the firm decided to buy Clarion Events for £2.24 billion in cash from Blackstone Inc.
Weir climbed 3.2%. Croda International moved up 2.9%, while Burberry Group, Marks & Spencer, Experian, Whitbread, Spirax Group, AstraZeneca and Antofagasta gained 2%-2.6%.
Pershing Square Holdings, Relx, Diageo, Smith & Nephew, Lion Finance, LondonMetric Property, Glencore, Scottish Mortgage, Associated British Foods, Haleon, Airtel Africa, United Utilities, IAG, Coca-Cola Europacific Partners, Reckitt Benckiser and Kingfisher also moved notably higher.
BAE Systems, Ithaca Energy and 3i Group shed 3%, 2.5% and 2.2%, respectively. M&G, IG Group Holdings, Babcock International, BP, Aberdeen Group, Rolls-Royce Holdings and Endeavour Mining dropped 1%-1.6%.
In economic news, data from S&P Global showed the S&P Global UK Construction PMI rose to 46.1 in September from 44.3 in August, missing expectations of 45.2 and signaling the slowest decline in construction output since January.
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