FTSE 100 up 0.7, FTSE 250 adds 0.6
Financial stocks like banks and brokerages lead broad gains
TP ICAP surges after a rise in halfyear pretax profit

Aug 7 Reuters London stocks inched higher for a second session on Wednesday, boosted by financial stocks and corporate earnings, as markets stabilized after a global stocks rout earlier this week.

The bluechip FTSE 100 index was up 0.7, while the midcap FTSE 250 index added 0.6 by 0710 GMT.

Banks jumped 1.4 and were among the top gainers. They rose 0.4 in the previous session.

The investment banking and brokerage sector was up 1.7, lifted by a 4.5 advance in wealth manager Quilter after it beat halfyear earnings forecasts and reported stronger net inflows of cash.

Interdealer broker TP ICAP surged 10 after a rise in its halfyear pretax profit, further supporting the sector. The stock topped the FTSE 250 index.

Homebuilders advanced 1.3 after data showed that housing prices in the country rose by the most in six months in July.

On the other hand, precious metal miners inched 0.1 lower, although gold prices held steady after a decline in the previous session.

Recessionary fears in the United States after weak economic data last week had triggered a market meltdown on Monday, sending investors scrambling for safehaven assets.

However, positive U.S. data and comments from Federal Reserve policymakers helped global markets make up most of their losses on Tuesday.

WPP fell 1.3 after the ad group cut its annual revenue…