Miners, financials push UK's FTSE 100 higher at open
The Bank of England said its annual stress test of eight major lenders showed that each could cope with rising interest rates in a stressed environment, and none would need to submit a revised capital plan. UK banks rose 0.6%.
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LONDON: UK's FTSE 100 rose at the open on Wednesday as higher metal prices lifted mining stocks, and British banks were up after successfully clearing the Bank of England's stress test.
By 0709 GMT, the blue-chip FTSE 100 gained 0.3%, while the more domestically-focussed FTSE 250 midcap index held steady at 18141.85 points. Industrial metal miners gained 0.8% as prices of most base metals rose on a softer dollar.
The Bank of England said its annual stress test of eight major lenders showed that each could cope with rising interest rates in a stressed environment, and none would need to submit a revised capital plan. UK banks rose 0.6%.
Investors eyed U.S. consumer prices data due later in the day, which is expected to show inflation easing to 3.1% on a yearly basis from 4% a month earlier. AstraZeneca rose 1.3% on a report UBS upgraded the drugmaker to "buy" from "neutral".
