London's FTSE 100 rises as financials, defence offset energy weakness
EWU•The FTSE 100 rose 0.2% to 10,811.28 points and the FTSE 250 gained 0.6% as financial and defence shares offset energy weakness. Energy stocks fell 2.2% as Brent crude slipped below $90 a barrel.
1. Index edges higher
The FTSE 100 rose 0.2% to 10,811.28 points by 1033 GMT on Tuesday, while the FTSE 250 was up 0.6%. Financial and defence stocks offset weakness in energy shares.
2. Sector and stock moves
Aerospace and defence shares gained 2.4%, with Rolls-Royce up 3.3%. Lion Finance Group rose 3.6%, while Prudential gained 3% and Barclays 2.2%. Energy shares fell 2.2% as Brent crude slipped below $90 a barrel.
3. Rate and retail updates
Investors assessed comments from Bank of England Deputy Governor Clare Lombardelli, who said she would not rule out a December rate hike. Money markets priced in roughly a 50% chance of a 25-basis-point increase. A British Retail Consortium survey showed retail spending rose modestly in October.
