FTSE 100 Gains as Banks, Miners, Diageo Rise
0918 GMT – The FTSE 100 edges 0.2%, or 12 points, higher to 7482 as gains for financial and general mining stocks offset losses for precious-metal producers and construction shares. Standard Chartered, HSBC, Barclays, NatWest and Lloyds are all higher after U.S. Fed chairman Jerome Powell laid out a tougher stance on fighting inflation. “The tough talk on rate increases continues, with the central-bank chief refusing to rule out consecutive monthly rate rises during the year,” IG analysts say. General miners Rio Tinto, Glencore and BHP are higher, though Fresnillo and Polymetal International lose ground as gold and silver prices drop. House builders are also in the red, though spirits group Diageo gains 0.6% after reporting higher 1H net profit. (philip.waller@wsj.com)
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