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FTSE 100 up 0.6%, FTSE 250 down 0.1%
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Llyods Banking Group rises on lower motor finance scandal
bill
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Gold miners jump after metal price hits record high
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Unite Group ( UTGPF ) plunges after softer Q3 rental growth
Oct 8 (Reuters) -
Britain's FTSE 100 hit a new intraday record on Wednesday,
lifted by heavyweight financial stocks, while gold miners
advanced after bullion prices reached all-time highs.
The blue-chip FTSE 100 was up 0.6% at 9,536.39 as of
1042 GMT.
Financials led gains, with the banks index up
1.4%. Lloyds Banking Group ( LYG ) gained 2.6% after London's
financial services regulator proposed a lower-than-feared
redress package over motor finance mis-selling.
The sentiment propped up other banks, with Barclays ( BCS )
adding 1.2%. HSBC ( HSBC ) also rose 1.1% after Morgan Stanley
raised its price target on the stock.
Precious metal miners outperformed peers
after gold prices soared past $4,000 per ounce for the first
time.
Endeavour Mining ( EDVMF ) and Fresnillo rose 2.1%
and 1.5%, respectively, placing the miners among the FTSE 100's
top performers.
In contrast, real estate stocks were the biggest
drag on the mid-cap FTSE 250, which tracks more
domestically focussed companies, down 0.1%.
Unite Group ( UTGPF ) dropped 9.8% to a more than five-year
low, the biggest loser on the FTSE 250, after the student
accommodation developer reported rental growth of 4% at the end
of the third quarter, compared with a 8.2% growth a year ago.
Investors also watched trade developments as Prime Minister
Keir Starmer began a two-day visit to India and said he wanted
the trade deal with India, inked in July, implemented as soon as
"humanly possible."
The FTSE 100 rallied to record highs last week, posting new
peaks in four out of five sessions, helped by resurgent
healthcare stocks, which had lagged in the first half of the
year.
On Wednesday, they gained 0.9%, with
AstraZeneca ( AZN ) up 1%.
Among other stocks, Vertu Motors ( VTMTF ) fell 3.2% after
warning of an annual profit hit from a cyberattack at Jaguar
Land Rover, whose dealerships the motor retailer operates.