(Reuters) – London’s FTSE 100 index edged higher on Tuesday, helped by gains in heavyweight commodity stocks, while investors awaited a monthly reading on factory activity to gauge the pace of the country’s economic recovery.
The blue-chip index rose 0.4%, with base metal miners gaining 2.5% as they tracked higher copper and iron ore prices. [O/R]
Oil majors BP and Royal Dutch Shell also added more than 0.5% each after Brent crude topped $70 on favourable demand outlook. [O/R]
The domestically focused mid-cap FTSE 250 index advanced 0.4%.
Wickes Group added 3.1% after the do-it-yourself retailer said its sales had surged in April, resulting in total like-for-like growth in the 21 weeks to May 22 at 46% compared with the same period a year ago.
Mortgage lender Nationwide said British house prices jumped by an annual 10.9%, the most in nearly seven years, and they look set to accelerate further as people seek new homes after the COVID-19 pandemic.
The wider homebuilders index rose 1.1%.
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