London stocks rise on boost from defence, mining stocks (updated)
20/10/2025 17:09
FTSE 100 up 0.6%, FTSE 250 up 0.4%
Industrial stocks bounce back
Housebuilders stocks fall following survey
B&M shares slump following lower forecasts
Updates after markets close
Oct 20 (Reuters) - UK's blue-chip FTSE 100 index rose on Monday, led by gains in defence and mining stocks as easing trade tensions lifted risk appetite, while homebuilder shares slid following a survey indicating stagnant housing prices.
The blue-chip FTSE 100 .FTSE gained 0.6% to 9,412.71 points, having dropped 0.9% the previous session. The mid-cap focused FTSE 250 .FTMC rose 0.4%.
Global risk appetite was buoyed by easing investor concerns over the stability of regional banks, turning focus to a wave of corporate earnings and a closely watched inflation report this week.
The index of aerospace and defence stocks .FTNMX502010 advanced 2%, tracking European peers. Babcock BAB.L and Rolls-Royce RR.L rose 2.3% and 2.6%, respectively, and were among the top performers in the FTSE 100.
The index of precious metal miners .FTNMX551030 rose 1.5%, as gold prices edged higher. GOL/
The banks .FTNMX301010 index gained 0.7%, recovering after concerns about credit quality in U.S. regional banks caused a global selloff in the financial sector.
However, the homebuilders index .FTNMX402020 lost 1.2%, with Persimmon PSN.L down 1.5%, leading losses on FTSE 100. A survey by property website Rightmove showed the asking prices for British homes rose only 0.3% in the four weeks ending October 11, which is below the seasonal average.
House prices in Britain typically pick up in the autumn before a Christmas lull.
The retailers index .FTNMX404010 ended down nearly 1.5%after B&M BMEB.L slumped nearly 22%, its worst one-day decline on record, after the discount retailer cut its full-year forecast over an accounting error, and announced the resignation of CFO Mike Schmidt.
Among individual stocks, Secure Trust Bank STBS.L slipped 2.3% after the company said it would need to raise its provision by about 16 million pounds ($21.5 million) to a total of 21 million pounds for compensating customers of the motor financing mis-selling scandal.
(Reporting by Medha Singh and Avinash P in Bengaluru; Editing by Vijay Kishore and Ros Russell)
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