(Reuters) – Britain’s equity indexes rose on Tuesday in line with modest gains in Asian markets on hopes of a rollback of U.S. tariffs on China, while supermarket group Sainsbury’s climbed after reporting quarterly sales that matched market expectations. The blue-chip FTSE 100 rose 0.1% by 0715 GMT and the domestically oriented FTSE 250 index […]
(Reuters) – Britain’s equity indexes rose on Tuesday in line with modest gains in Asian markets on hopes of a rollback of U.S. tariffs on China, while supermarket group Sainsbury’s climbed after reporting quarterly sales that matched market expectations.
The blue-chip FTSE 100 rose 0.1% by 0715 GMT and the domestically oriented FTSE 250 index added 0.5%, on track to snap a four-day run of losses.
Asian shares climbed following positive economic data out of Asia and a report that U.S. President Joe Biden was leaning towards a decision on easing tariffs on goods from China. [MKTS/GLOB]
Shares of Sainsbury’s rose 2.3% after reporting a 4% fall in underlying sales in its first quarter, which was largely anticipated by investors after a warning from Tesco and Morrisons last month.
Banks stocks will be in focus when the Bank of England ( BoE ) publishes its Financial Stability Report at 0930 GMT. The central bank can impose controls on how much lenders can pay to shareholders based on the economic outlook.
Several BoE policymakers including Silvana Tenreyro and Catherine Mann as well as chief economist Huw Pill will speak later this week.
(Reporting by Sruthi Shankar in Bengaluru; Editing by Arun Koyyur)
