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FTSE 100 up 0.2%, FTSE 250 dips

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Segro ( SEGXF ) gains on strong results

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Precious metal miners track lower gold price

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

consecutive day on Tuesday, led by gains in warehousing group

Segro ( SEGXF ) and HSBC ( HSBC ), as investors looked ahead to the domestic

inflation report due later in the week.

Heavyweight HSBC ( HSBC ) rose 2% 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.

Segro ( SEGXF ) reported improved rent signing in the third

quarter, sending its shares up 2.8% to become the best performer

in FTSE 100.

The benchmark FTSE 100 was up 0.2% at 9,422 points

as of 1038 GMT, while the domestically focused FTSE 250

was little changed.

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.

Precious metal miners slid 4.9% to become the

worst performing sector of the day as gold's rally stalled.

Endeavour Mining ( EDVMF ) and Fresnillo fell 4% and

3.5%, respectively, and led losses in the FTSE 100.

Among individual stocks, Serica Energy ( SQZZF ) advanced 4.7%

after the oil company resumed production at Triton offloading

vessel following a temporary shutdown.

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.

(Reporting by Medha Singh and Avinash P; Editing by Saumyadeb

Chakrabarty)