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UK stocks rise as investors look to BoE for recovery cues

Published 03/18/2021, 04:14 PM
Updated 03/18/2021, 04:20 PM
© Reuters.
UK100
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HSBA
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BARC
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LLOY
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RIO
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BHPB
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EVOK
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FTMC
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GLEN
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FEVR
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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 0.1%, FTSE 250 adds 0.3%

March 18 (Reuters) - UK stocks rose on Thursday, led by a
rally in mining and bank stocks, while investors looked to the
Bank of England's policy meeting for forecasts around the pace
of Britain's economic recovery from the COVID-19 pandemic.
The blue-chip FTSE 100 index .FTSE climbed 0.1%, with
mining stocks including Rio Tinto RIO.L , Glencore Plc GLEN.L
and BHP Group BHPB.L adding between 1% and 1.2%.
Bank stocks, mainly HSBC Holdings HSBA.L , Lloyds Banking
Group LLOY.L and Barclays Plc BARC.L , were also among the
biggest gainers.
The Bank of England is not expected to change its
crisis-fighting stimulus programme at 1200 GMT and will probably
try to keep a lid on expectations that the UK economy was
heading for a strong, vaccine-boosted recovery after suffering
its worst crash in three centuries last year. The domestically focused mid-cap FTSE 250 index .FTMC rose
0.3%, led by industrials stocks.
Gambling group 888 Holdings 888.L rose 6.0%, after posting
higher annual adjusted core earnings and signalling strong
momentum in 2021 so far, as more people shifted to online
betting during coronavirus restrictions. Drinks maker Fever-Tree FEVR.L fell 5.3%, despite a better
2021 revenue forecast with at-home drinking catching on and
sales at lockdown-hit bars and restaurants expected to gradually
gain momentum.

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