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FTSE 100 up 0.1%; FTSE 250 up 0.6%
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Experian ( EXPGF ) jumps on revenue growth
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Barratt Redrow ( BTDPF ) slumps on annual home completion miss
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Reeves, Bailey to speak at Mansion House dinner
By Ankita Yadav
July 15 (Reuters) - The UK's FTSE 100 surpassed the
9,000-point mark for the first time on Tuesday, as investors
took comfort in a relatively tariff-shielded market and rising
bets of a Bank of England interest rate cut.
The blue-chip FTSE 100 was up 0.1% at 9,001.1 points
- touching a fresh intraday record high as of 1035 GMT - while
the domestically oriented FTSE 250 index climbed 0.6% to
a more-than-three-year high.
"The UK market has acted as something of a safe haven amid
global trade uncertainty in recent months, thanks in part to the
UK quickly striking a trade deal with the U.S.," said Jonathan
Unwin, UK head of portfolio management at Mirabaud Wealth
Management.
The UK is one of only two countries to have a trade deal
with the U.S.
"Expectations of UK rate cuts are further supporting
rate-sensitive stocks, while the currency drag from dollar
weakness has largely played out at this stage."
The blue-chip index has risen about 20% from its April lows
when U.S. President Donald Trump's announcement of "Liberation
Day" tariffs sent global stocks plunging.
Later on Tuesday, British Finance Minister Rachel Reeves
will set out measures to ease access to mortgages when she gives
the annual Mansion House speech.
Investors will also tune in to BoE Governor Andrew Bailey's
commentary on the central bank's rate outlook.
Traders are currently pricing in 89% chances of a 25 bps
rate cut in August, as per data compiled by LSEG.
Industry data showed British retail spending bounced back in
June, following weak sales growth in May, as unusually hot
weather boosted demand for fans and summer clothing.
Among individual stocks, Experian ( EXPGF ) rose 4.7% after
the credit data firm reported an 8% organic revenue growth in
the first quarter and reaffirmed its annual forecasts.
Barratt Redrow ( BTDPF ) slid 6.2% after Britain's largest
homebuilder said home completions missed expectations for fiscal
2025, as concerns around affordability resurfaced and deterred
private buyers.
B&M slumped 8.5% after the discount retailer missed
like-for-like sales estimates in its UK business in the first
quarter.