UK equities moved higher, boosted by banks

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Source: Dukascopy Bank SA
UK stocks are trading higher on Tuesday after upbeat reading of German ZEW Economic Sentiment index. The FTSE 100 Index added 0.41% to trade at 6,343.83. Eight out of ten industries jumped. Consumer goods and financials led gains. Associated British Foods and Reckitt Benckiser Group soared 1.71% and 1.58%, while Standard Chartered and Aberdeen Asset Management rose 3.09% and 2.26%. Reckitt Benckiser Group extended its gains after announcing a buyback of six million ordinary shares. Standard Chartered rallied after Morgan Stanley lifted the bank's rating to equal perform from overweight, citing brighter outlook on the bank's Asian operations. Capping the upswing of the UK blue chips, health care and telecommunication companies sagged 1.94% and 0.09%. AstraZeneca and GlaxoSmithKline dipped 0.14% and 0.24% whereas Vodafone Group plunged 2.61% after Bernstein lowered rating of wireless-telecom company to underperform from market perform.
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