London stocks closed higher on Tuesday (July 19), helped by strong gains in banking stocks. and consumer products This has helped to overshadow concerns about the prospect that the Bank of England (BoE) will raise interest rates sharply next month. After the disclosure of stronger-than-expected employment data
The FTSE 100 London Stock Exchange closed at 7,296.28, up 73.04, or +1.01%.
The UK unemployment rate has remained stable at 3.8% in three months (March-May) and employment has increased the most since mid-2021, indicating that The high cost of living has yet to affect staff demand.
Traders took a 90.4% chance that the BoE would raise interest rates by 0.50% next month as investors await the release of the British consumer price index and retail sales this week. This indicates inflation and British consumer confidence.
Banking stocks were up 1.7 percent, while safe-haven stocks such as consumer goods firms such as Unilever and British American Tobacco were up 2.0 percent and 1.3 percent, respectively.
The listed firm’s strong earnings release boosted individual shares, with Weiss, a money transfer company, jumping 14.9 percent after reporting strong earnings growth.
dark trace stock The cybersecurity firm jumped 4.8% after it raised its full-year profit forecast. Due to the continuous expansion of customers