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FTSE 100 up 0.4%, FTSE 250 up 0.8%

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UK's hot summer boosts sales at electrical retailer Currys ( DSITF )

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Jet2 ( DRTGF ) forecasts lower profit as later bookings trend

worsens

Sept 4 (Reuters) -

London shares rose on Thursday, led by gains in consumer

staples and bank stocks, while investors assessed corporate

updates.

The blue-chip FTSE 100 closed up 0.4%, while the

domestically focussed midcap index rose 0.8%.

Retail stocks were boosted by Currys' ( DSITF )

15.6% rise after the electricals retailer said group sales rose

3% in the summer period (for the 17 weeks to the end of August)

putting it on track to meet forecasts. Currys ( DSITF ) also launched a 50

million pound ($68 million) share buyback.

Other major retailers such as JD Sports Fashion,

Frasers ( SDIPF ) and Next also advanced.

Consumer staples stocks rose, with Tesco ( TSCDF ) up 1.8%.

Heavyweight bank stocks gained 1.2%, with

NatWest ( NWG ) up 1.5%, Barclays ( BCS ) adding 2.2%, and

Lloyds up 2.1%.

Around 3,000 Lloyds employees judged to be among the bottom

5% of performers will be considered for possible dismissal, a

source familiar with the matter

told Reuters

.

Communication services stocks such as Airtel Africa ( AAFRF )

and Auto Trader each added about 2.3%, while Rightmove ( RTMVF )

advanced 2.9%.

Conversely, precious metal miners fell,

tracking lower gold prices. Endeavour Mining ( EDVMF ) down 1.7%,

while Hochschild Mining fell 3.5%.

Industrial miners also declined, with Anglo

American down 1.2%.

In other moves, low-cost airline and travel firm Jet2 ( DRTGF )

lost 12.5% after forecasting lower profit. Peer EasyJet ( EJTTF )

fell 4.2% to the bottom of the FTSE 100.

Animal genetics firm Genus rose 10.4% on

strong annual profit growth

and China joint venture acceleration.

Meanwhile, stability returned to bond markets following a rout

earlier this week when concerns over Britain's finances and the

government's ability to keep them under control briefly sent

yields on 30-year British government bonds, or

gilts, to their highest since 1998.

Investors, however, continue to speculate about tax rises

that could dampen economic growth with Britain set to deliver

its budget on November 26.

On the data-front, activity in Britain's construction sector

slowed for the eighth month in a row in August, extending its

longest downturn since 2020.

A BoE survey showed British firms reported a slight rise in the

year-ahead inflation expectations.

Investors are awaiting July retail sales data due on Friday.

Stocks including Antofagasta ( ANFGF ) and Admiral Group

fell 2.3% and 1.5%, respectively, as they traded

ex-dividend.