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Banks, miners boost UK stocks as recovery optimism back in focus

Published 03/30/2021, 03:25 PM
Updated 03/30/2021, 03:30 PM
© Reuters.
UK100
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HSBA
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BARC
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BP
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PRU
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IMB
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RDSa
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RIO
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AAL
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BHPB
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FTMC
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IDSI
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(For a Reuters live blog on U.S., UK and European stock
markets, click LIVE/ or type LIVE/ in a news window)
* Both FTSE 100 and FTSE 250 rise 0.6%

March 30 (Reuters) - British shares rose on Tuesday, boosted
by gains in banks and miners as investors turned their focus to
vaccine-led economic recovery optimism, while Royal Mail climbed
after announcing a one-off dividend payment.
The blue-chip FTSE 100 index .FTSE was up 0.6%, with bank
and mining stocks including HSBC Holdings HSBA.L , Barclays
BARC.L , Prudential Financial PRU.L , Rio Tinto RIO.L , Anglo
American AAL.L and BHP BHPB.L being the biggest gainers.
Oil heavyweights BP BP.L and Royal Dutch Shell RDSa.L
were also among the biggest boosts, rising between 0.5% and 1%.
Bank of England rate-setter Gertjan Vlieghe said Britain's
economy would still need help from the central bank to restore
it to its pre-pandemic growth path, even with a fast recovery
and some inflation this year. The domestically focused mid-cap FTSE 250 index .FTMC
climbed 0.6%, led by industrials stocks.
Imperial Brands Plc IMB.L fell 0.7%, even after
maintaining its full-year adjusted profit growth forecast, as it
expected "significantly reduced" losses from next generation
products and increased investments in its business. Royal Mail RMG.L added 2.8%, after saying it would pay a
one-off dividend for the year ending March following recent
upgrades to its financial outlook on the back of a surge in
parcel demand during the pandemic and a recent pick-up in letter
volumes.

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