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FTSE 100 up 0.2%, FTSE 250 down 0.4%
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Anglo American jumps on $53 bln merger deal with Canada's
Teck
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Burberry ( BBRYF ) falls on cautious comments at luxury conference
(Updates after market close)
Sept 9 (Reuters) - Britain's FTSE 100 closed higher on
Tuesday, boosted by energy and industrial mining stocks, as
Anglo American jumped on a merger deal.
The blue-chip FTSE 100 closed up 0.2%. The
domestically focussed mid-cap index ended 0.4% lower,
weighed down by consumer discretionary stocks.
Industrial miners rose 2.7%, led by Anglo
American, which rose 9.1%, to top the FTSE 100, after
the miner said it has agreed to merge with Canada's Teck
Resources ( TECK ) in a $53 billion deal to form a newly
combined company Anglo Teck.
"The deal is a win for the UK stock market as the enlarged
Anglo Teck group will have its primary listing in London," said
Russ Mould, investment director at AJ Bell.
"Anglo clearly believes the UK works well as a listing venue
and that sends a positive message to other businesses undergoing
M&A."
Energy stocks advanced, tracking higher oil
prices after an Israeli attack on the Hamas leadership in Qatar.
Shell rose 1%, while BP advanced 1.3%.
Bank stocks also rose, with top lenders
NatWest ( NWG ) and Barclays ( BCS ) among the top performers
on the benchmark index.
On the flip side, personal goods stocks lost
6.7%, with Burberry ( BBRYF ) falling 8.3% on cautious comments
at a luxury conference.
The homebuilders' index also fell, with
Berkeley down 1.8%, while Vistry fell 4.6%.
Though a survey showed British shoppers spent more in
August, helped by summer weather, retail stocks
declined 1.7%, dragged down by Dunelm ( DNEMF ), which fell 9.9%
to the bottom of the mid-cap index after it cautioned that it
had yet to see signs of sustained recovery in consumer demand.
Other retailers, such as JD Sports Fashion and Howden
Joinery ( HWDJF ), also fell.
Among other moves, the London Stock Exchange Group ( LDNXF )
fell 4.7% to the bottom of the FTSE 100. Unilever ( UL ) was
down 1.5%.
Computacenter gained 3.8% after flagging a strong
start to the third quarter.
Insurer Phoenix Group ( PNXGF ) was up 1.8%, following a 7.6%
decline in the previous session when it said it would rebrand as
Standard Life in March 2026 and reported a larger-than-expected
drop in book value due to market moves.