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FTSE 100 up 0.1%, nearing 10,000 mark
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FTMC closes near flat
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SSE climbs to record high after unveiling 33 bln-pound
plan
(Updates after market close)
Nov 12 (Reuters) -
London's FTSE 100 logged a third consecutive record close,
supported by gains in utilities and mining shares as investors
welcomed signs of a potential end to the prolonged U.S.
government shutdown.
The blue-chip index closed 0.1% higher, within
striking distance of the 10,000 mark. The mid-cap index FTSE 250
was down 0.7%.
Leading Wednesday's gains, the utilities sector
advanced 4% as SSE surged 16.8% to a record
high after unveiling a 33 billion-pound ($44.29 billion)
five-year investment plan
to upgrade the UK's regulated electricity networks and
expand its renewable business.
Metal miners gained 1.3% as copper prices
strengthened in global commodity markets.
The improved market sentiment followed growing optimism
that the U.S. House of Representatives may soon vote
to end the government shutdown
that has disrupted crucial economic data releases. A
resolution would provide greater clarity for the Federal
Reserve's future interest rate decisions.
Back in the UK, investment banking stocks
fell 1.7% with 3i Group ( TGOPF ) in the lead with 3.3% losses.
Industrial shares declined 2%, with
credit data specialist Experian ( EXPGF ) dropping 4.9% despite
forecasting full-year revenue growth of 11%, the upper end of
its outlook range.
Homebuilders declined 2.3%. Taylor Wimpey's
shares fell nearly 4% after reporting a softer autumn
selling season as British buyers hesitated ahead of the budget
announcement.
Energy shares fell 1% as oil prices dipped,
with oil majors BP and Shell dropping 1.7% and
0.7%, respectively.
Market participants are awaiting Thursday's preliminary UK
GDP figures for the third quarter, which will offer key insights
into the nation's economic health before the government's budget
announcement later this month.
Among other stocks, Smithson Investment ( STINF ) rose 7%
after announcing plans to convert its assets into an open-ended
fund, while Avon Technologies ( AVNBF ) jumped 6.3% to a
five-year high following an upbeat fiscal year outlook.
($1 = 0.7451 pounds)