FTSE 100, FTSE 250 up 0.4
St. James39;s Place top gainer on FTSE 100
Rolls Royce up on layoffs
Bellway down on gloomy forecast

Oct 17 Reuters UK39;s FTSE 100 rose on Tuesday, as aerospace and defence stocks jumped on layoffs announced by Rolls Royce, while latest earnings data showing a slowdown in wage growth boosted investor sentiment.

Both the bluechip FTSE 100 and the midcap index added 0.4 each by 0820 GMT.

Engineering company RollsRoyce said it would cut 2,0002,500 roles across its global business as part of a costcutting drive, sending shares up 1.9. The broader aerospace and defense index added 1.1.

Meanwhile, data showed growth in British workers39; regular pay slowed for the first time since January from a previous record high and job vacancies also dropped during the three months to the end of August.

UK earnings data suggests that signs of slack continue to emerge, highlighting the fragility of the economy as elevated inflation and the Bank of England39;s rate hikes take their toll on the jobs market, said Victoria Scholar, head of investment at Interactive Investor.

Heavyweight oil and gas shares rose 0.6 as oil prices moved higher amid hopes the U.S. would ease sanctions on producer Venezuela.

Pharma and biotech shares added 1.3 and were the top gainers on the FTSE 100. U.S. pharmaceutical giant Johnson Johnson is expected to post its quarterly results later in the day.

Industrial metal miners were down 1.2, leading declines following a…