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FTSE 100 up 0.25%, FTSE 250 up 0.18%

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Segro ( SEGXF ) gains on strong results

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Precious metal miners slump tracking lower gold price

(Updates after markets close)

OCT 21 (Reuters) - London's FTSE 100 rose for a second

consecutive day on Tuesday, lifted by shares of Melrose and

HSBC ( HSBC ), while losses in precious miners kept gains in check.

Heavyweight HSBC ( HSBC ) rose 1.8% after hiring banking

veteran and former NatWest executive David Lindberg to

become the CEO of its UK business. Its shares powered a 1.2%

rise in the banks index.

GKN Aerospace owner Melrose Industries advanced

5.3% as GE Aerospace raised its full-year earnings

forecast for a second time in four months.

Both the benchmark FTSE 100 and the domestically

focused FTSE 250 rose about 0.2%, each.

Precious metal miners index slid 11.1% to

register its worst day in over ten months as gold and

silver dropped 5% and 7% respectively after a record

breaking run this year.

Fresnillo fell 14%, while Endeavour Mining ( EDVMF )

tumbled 9.8% - both logging their worst day in nearly four

years. This stocks were the worst performers in the FTSE 100.

UK's borrowing for the April to September period came in at

its highest level on record, excluding during the height of the

coronavirus pandemic. This data adds further pressure on finance

minister Rachel Reeves as she prepares next month's budget.

The data also comes ahead of UK's price report on Wednesday,

which is likely to show inflation rate hit 4% in September, the

highest among the world's big rich economies and double the Bank

of England's target.

Governor Andrew Bailey and his colleagues say the outlook

for inflation is still unclear, making it hard to predict when

interest rates are likely to be cut again.

Among individual stocks, Serica Energy ( SQZZF ) advanced 4.3%

after the oil company resumed production at Triton offloading

vessel following a temporary shutdown.

Segro ( SEGXF ) reported improved rent signing in the third

quarter, sending its shares up 2.9%.

Meanwhile, Shawbrook is targeting a market cap of up to 2

billion pounds ($2.68 billion) in its London IPO, signalling a

strong investor appetite for the lender's listing.

($1 = 0.7451 pounds)