A worker shelters from the rain under a Union Flag umbrella as he passes the London Stock Exchange in London, Britain, October 1, 2008. REUTERS/Toby Melville/File Photo/ Acquire Licensing Rights
Dec 12 (Reuters) – The UK’s FTSE 100 started Tuesday on a positive note, with miners leading the charge on higher metal prices, while investors awaited a U.S. inflation reading, due later in the day.
By 0809 GMT, the blue-chip FTSE 100 was up 0.3%, while the more domestically-focussed FTSE 250 index (.FTMC) was flat.
Miners of both industrial (.FTNMX551020) and precious (.FTNMX551030) metals gained 1.1% and 0.7%, respectively, as most metal prices gained on a softer U.S. dollar.
Separately, London-listed shares of Rio Tinto (RIO.L) gained 1.6% after J.P. Morgan upgraded the global miner’s rating to “overweight” from “neutral”.
All eyes are now on the November U.S. consumer prices data, a day before the Federal Reserve is scheduled to announce its monetary policy decision.
Separately, Britain’s Financial Conduct Authority (FCA) said it was concerned about the amount of interest and fees charged by some investment platforms and has written to 42 firms warning it could intervene to ensure fair value.
The broader investment banking and brokerage services sector (.FTNMX302020) was down 0.5%.
Reporting by Shashwat Chauhan in Bengaluru; Editing by Sonia Cheema
Our Standards: The Thomson Reuters Trust Principles.
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