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FTSE 100 up 0.28%, FTSE 250 gains 0.54%
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AstraZeneca ( AZN ) rises after report says CEO eyeing U.S.
listing
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Sainsbury's ( JSNSF ) shares slide despite a rise in quarterly sales
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StanChart falls after facing $2.7 billion lawsuit
(Updates with market closing prices)
July 1 (Reuters) - UK's main stock indexes ended higher
on Tuesday as investors assessed a mixed bag of company news,
including a report that AstraZeneca's ( AZN ) CEO is considering moving
the company's listing to the U.S.
The internationally oriented FTSE 100 rose 0.28%,
while the domestically-focussed midcap index added
0.54%. Midcap stocks ended June by logging their best quarter in
over four years while the blue-chip index logged monthly losses.
Drugmaker AstraZeneca's shares rose 2.7% after
multiple sources told The Times that CEO Pascal Soriot was
considering moving the company's listing to the U.S.
Investors also analysed latest comments from Bank of
England Governor Andrew Bailey for cues on interest rate path.
Bailey said rising uncertainty in the global economy had hurt
economic growth and investment intentions, while highlighting
Britain's softening labour market.
Traders are currently pricing in a 78% chance of a rate
cut by the BoE in August.
Precious metal mining stocks led sectoral
gains, rising 2.4% as safe-haven gold jumped over 1% on weaker
dollar and U.S. tariff uncertainty.
Endeavour Mining ( EDVMF ) and Fresnillo added 2.8%
and 1%, respectively. Hochschild Mining gained 5.3%.
Meanwhile, losses were led by aerospace and defense index
, which declined 2.2%. Rolls-Royce fell 2.9% and
Babcock lost 2.5%.
On the data front, S&P's manufacturing PMI figures showed
that the sector improved for the third month in a row, but
remained below the growth threshold as businesses increased
prices to offset higher labour costs.
Among individual stocks, food retailer Sainsbury's ( JSNSF )
shares slid 1.1% despite reporting a higher-than-expected rise
in quarterly sales.
Standard Chartered Bank ( SCBFF ) shares fell 2% after
liquidators for Malaysia's sovereign wealth fund 1MDB sued the
bank in Singapore alleging fraud that led to more than $2.7
billion in losses more than 10 years ago.
In other news, Britain's competition watchdog cleared
Aviva's 3.7-billion-pound ($5.08 billion) takeover of
smaller rival Direct Line that will create the UK's
largest home and motor insurer. Shares of Aviva were up 0.8%,
while those of Direct Line rose 0.5%.