FTSE 100 up 0.35, FTSE 250 adds 0.1
Pharma and biotech, industrial support stocks lead gains
Dowlais Group explores unit sale, cuts annual forecast, shares fall

Aug 13 Reuters London39;s FTSE 100 inched higher on Tuesday amid broader gains in the runup to crucial inflation numbers in the United States and the UK, while cart parts supplier Dowlais Group lagged the midcaps.

The bluechip FTSE 100 index was up 0.3, while the midcap FTSE 250 index added 0.1 by 0712 GMT.

The indexes were set to extend their rally for a third consecutive session after closing lower for a second straight week on Friday.

Pharma and biotech and industrial support services led broader gains in London with a 0.7 rise each.

Most sectors trended upwards, while automobile and parts lead declines, pulled down by a 10.2 fall in Dowlais Group.

The company sank to the bottom of the FTSE 250 after it said it was exploring a potential sale of its GKN Powder Metallurgy unit, among other options, and cut its annual revenue forecast.

The sectoral index fell to its lowest level since early 2009.

Industrial metal miners dipped 0.5 on easing copper prices as investors turned to profittaking.

Meanwhile, data out of the UK showed a slowdown in average earnings growth and an unexpected fall in the unemployment rate, pushing the pound up against the dollar.

The further easing in wage growth will be welcomed by the BoE as a sign that labour market conditions are continuing to cool, but we think it will…