Entain gains on higher quarterly revenue
Cineworld slips on scrapping sale of some operations
Easyjet rises on upbeat forecast
FTSE 100 up 0.3, FTSE 250 adds 0.1
April 18 Reuters The UK39;s commodityheavy index rose on Tuesday as a surge in tin and gold prices boosted base and precious metal miners, while shares of Entain gained on upbeat quarterly results.
The FTSE 100 increased 0.3, on the rise for the eighth straight day, while the midcap FTSE 250 was up 0.1, as of 0805 GMT.
Industrial miners gained 1.2 as tin prices soared more than 10, supported by supply fears after a major oreproducing region in Myanmar issued a ban on mining activities.
Precious metal miners added 2.1, tracking a rise in gold prices against a pullback in the dollar.
The defensive commodity and pharmaceuticals stocks have cushioned the exporterheavy FTSE 10039;s rally.
UK equities are more defensive in nature. So, if people have some concerns about equities globally, the UK is a good place to hide, driving flows of defensive companies, said Marija Veitmane, senior multiasset strategist at State Street Global Markets.
The key for UK equities is that it has an international focus, so, currency really matters for shortterm volatility.
Homebuilders and personal care stocks were laggards, down 0.7 and 0.4 respectively, as a rise in the pound dented the internationally focused firms.
Meanwhile, data showed Britain39;s pay growth key to the Bank of England39;s BoE debate about whether to…