British Midcaps Hit Record High Ahead of Factory Activity Data

The blue-chip FTSE 100 index climbed 0.8%, with spirits maker Diageo Plc and banking shares gaining 1.7% and 1%, respectively.

Industrial and aero stocks added 0.7% and 0.3%, respectively.

The domestically focussed mid-cap index advanced 0.4%. Tyman Plc jumped 4.8% to the top of the index after Berenberg upgraded the construction materials supplier’s stock to “buy” from “hold”.

Figures from mortgage lender Nationwide showed British house prices rose by 2.1% month-on-month in August after a subdued 0.6% increase in July, despite the phasing-out of a tax break for purchases in England and Northern Ireland.

All eyes are now on the IHS Markit/CIPS UK Manufacturing Purchasing Managers’ Index (PMI) data due at 08:30 GMT.

Among other stocks, WH Smith slipped 5.5%, after the retailer warned profitability for the year ending August 2022 would be at the lower end of market expectations, due to charges and uncertainty in travel recovery.

For a look at all of today’s economic events, check out our economic calendar.

(Reporting by Devik Jain in Bengaluru; Editing by Subhranshu Sahu)