London stocks open higher as personal goods sector gains

British equities edged higher on Tuesday lifted by a surge in the personal goods sector, while investors assessed economic data that shows a slowing UK economy.\nBoth the benchmarks FTSE 100 and FTSE 250 rose 0.1% and 0.3%, respectively.\nThe personal goods sector gained 2.2%, led by a surge in Watches of Switzerland as the company kept its sales and profit forecast for 2024 unchanged.\nThe stock soared 13.2% in early trade.\nHomebuilders rose 1.1 % after British house prices ended six months of consecutive falls in October, reflecting a lack of homes being put up for sale.\n FTSE 100 falls on energy drag, but logs weekly gains \nPersimmon rose 2.1% as it said it would build more homes this year than its earlier expectation.\nVistry, too, climbed 2.5% as it announced an 819 million pound ($1 billion) deal with Blackstone-backed firms Leaf Living and Sage Homes to deliver 2,915 homes starting this year.\nPrecious metal miners, however, slid 1%, leading losses, after gold slipped to a near two-week low.\nOil and gas shares fell 0.8% on lower prices. Naked Wines dropped 23.3% after it slashed its annual revenue and profit outlook on weak performance in the US market.\nSource [Business Recorder – Latest News](

Bookmark the permalink.

Comments are closed.