FTSE 100 Extends Gains Ahead Of BoE Hearing

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(RTTNews.com) - U.K. stocks were modestly higher on Tuesday after a government report showed the U.K. budget deficit narrowed in April to its lowest level since 2008.

Underlying sentiment remained cautious ahead of the testimony of the Bank of England governor Mark Carney to the House of Commons' Treasury Select Committee on the latest quarterly inflation report.

The benchmark FTSE 100 was up 0.2 percent at 7,871 in late opening deals after rallying 1 percent to close at a record high the previous day.

Glencore gained about 1 percent. The miner and commodity trader is close to a $1 billion deal to buy Chevron Corp.'s southern African assets, potentially scuppering an earlier agreement with China Petroleum & Chemical Corp., Bloomberg reported citing three people familiar with the matter.

Construction firm Balfour Beatty rose half a percent after saying its trading is in line with full year expectations.

Real estate investment trust Shaftesbury advanced 0.6 percent after reporting a rise in first-half revenue and profit.

Inmarsat plunged more than 12 percent after its monopoly on providing an internationally required set of communication systems for ships ended.

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This article appears in: Stocks , World Markets , Politics , Oil
Referenced Symbols: BAFYY ,

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