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Banks, mining stocks lift FTSE 100 to one-week high on stimulus hopes

Published 11/03/2020, 04:25 PM
Updated 11/03/2020, 04:30 PM
© Reuters.
UK100
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FTMC
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FTNMX301010
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FTNMX402020
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FTNMX551030
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FTNMX601010
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STOXX
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CRST
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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)
* FTSE 100 up 1.3%, FTSE 250 adds 1.2%

Nov 3 (Reuters) - London's FTSE 100 rose on Tuesday, getting
a boost from financial and mining stocks as investors bet on
more stimulus measures to soften the economic impact from a
second wave of new coronavirus infections.
The commodity-heavy FTSE 100 index .FTSE gained 1.3%,
bolstered by banks .FTNMX8350 and energy .FTNMX0530 stocks,
while the domestically focussed mid-cap FTSE 250 .FTMC added
1.2%.
Mining .FTNMX1770 stocks climbed 1.9% - tracking higher
metal prices.
European shares .STOXX also tracked a rally in Asia ahead
of Election Day in the United States. .EU
The Reserve Bank of Australia trimmed interest rates to near
zero on Tuesday and expanded its bond-buying programme, with
dealers expecting a similar asset purchase pump by the Bank of
England in its policy meeting on Nov. 5 to stem a faltering
economic recovery. In company news, Crest Nicholson Holdings Plc CRST.L
jumped 13.2% after the homebuilder forecast annual profit ahead
of market expectations and reinstated dividends due to a strong
recovery in the housing market. The wider homebuilding sub-index .FTNMX3720 gained 1.6%.

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