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FTSE 100 Edges Higher In Cautious Trade

2024-06-07MyfxbookMyfxbook
U.K. stocks edged up slightly in cautious trade on Tuesday as traders returned to their desks after a long holiday weekend.
FTSE 100 Edges Higher In Cautious Trade

(RTTNews) - U.K. stocks edged up slightly in cautious trade on Tuesday as traders returned to their desks after a long holiday weekend.

The benchmark FTSE 100 inched up 12 points, or 0.2 percent, to 7.439, with banks and energy majors leading the surge.

Lloyds Banking Group and HSBC Holdings both rose over 2 percent as British two-year government bond yields briefly leapt by as much as 25 basis points to their highest since October 2008.

Oil & gas firm Shell rose about 1 percent after oil prices jumped more than 4 percent on Monday amid speculation over further supply tightness.

AstraZeneca fell 2.2 percent despite the company receiving approval for its Evusheld COVID-19 treatment in Japan.

Bunzl slumped 5 percent. The distribution and outsourcing firm raised its 2022 group operating margin outlook after posting a rise in earnings for the first-half.

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