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London stocks edge higher, Sainsbury’s climbs after results
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(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.
(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)
Equity refers to the ownership value of shares in a company. It represents the amount of money that would be returned to shareholders if all assets were liquidated and all debts paid.
The UK economy is the economic system of the United Kingdom, characterized by a mixed economy with a combination of private and public enterprises, and is one of the largest economies in the world.
Financial stability refers to a condition where the financial system operates effectively, with institutions able to withstand shocks and continue to provide essential services without significant disruptions.
Retail trade involves the sale of goods and services directly to consumers. It encompasses a variety of businesses, including supermarkets, department stores, and online retailers.
The Bank of England is the central bank of the United Kingdom, responsible for issuing currency, managing monetary policy, and ensuring financial stability within the economy.
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