UK stocks advance on banking-sector strength

By Reuters News

Oct 12 - Britain's FTSE 100 inched up on Thursday, with financial stocks providing support ahead of key US inflation data and UK GDP figures this week that could offer fresh insight into the economic outlook.

The blue-chip FTSE 100 index .FTSE rose 0.58% to 10,614.30 points by 1044 GMT, while the midcap FTSE 250 .FTMC climbed 0.21%.

  • Oil prices slip 0.7% to $104.50 a barrel; US President Donald Trump said Russia and Ukraine agreed to halt attacks on each other's energy facilities O/R

  • Financial heavyweight HSBC Holdings HSBA.L is shifting pay to performance-based bonuses from fixed salaries, Bloomberg reported

  • Financial stocks .FTNMX301010 among top gainers: HSBC Holdings HSBA.L, Standard Life SDLF.L, Lloyds Banking Group , Barclays BARC.L, NatWest NWG.L, Standard Chartered STAN.L gain between 1.2 and 1.9%

  • Limiting the gains, exhibitions group Informa INF.L fall 3%, telecom services company Vodafone VOD.L slip 1.4%

  • Shares of recruiter Hays HAYS.L dip 6.7% to their lowest since August 6 after 14th straight net fee drop

  • BP BP.L plans to restart production at its Na Kika and Thunder Horse platforms in the Gulf of Mexico, three days after suspending due to Hurricane Isaias

  • Data analytics and consulting company GlobalData DATA.L rise 3.9% after the Times reported founder and CEO Mike Danson is considering a sale of its core divisions

  • Investors looked to US inflation data due later this week that could offer clues on the Federal Reserve's policy path

  • Market participants also looked ahead to UK GDP estimates for August, due later on Thursday, for further clues on the economy's health

  • Attention was also on Bank of England Deputy Governor Sarah Breeden's speech for indications on the interest-rate trajectory

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