LONDON (AFP) ? Stocks closed higher on Tuesday, as investors reacted positively to stable British inflation data.
"The FTSE 100 traded back around the 5,800 level on Tuesday, supported by heavyweight mining shares, whilst UK inflation held steady at 4.5 percent, applying less pressure on the Bank of England to raise interest rates," said Joshua Raymond, chief market strategist at City Index traders.
Twelve-month inflation stood at 4.5 percent in May, unchanged from the level in April but nevertheless at the highest level for more than two-and-a-half years, official data showed.
The benchmark FTSE 100 index of top shares closed up 0.51 percent at 5,803.13 points.
Lloyds was the most widely traded stock of the day, with 144 million shares changing hands, followed by Vodafone, which saw 84.7 million units switch owners.
Broadcaster ITV was the best blue-chip performer, rising 4.36 percent (2.85 pence) to finish at 68.2. It was followed by asset management firm Schroders, which rose 3.93 percent (60 pence) to finish at 1,586.
Glencore slid the most, shedding 4.47 percent (23.4 pence) to finish at 500.
The commodities giant had announced earlier that first quarter net profits soared 47 percent to ?792 million, boosted by strong demand for energy and metals. Revenues reached ?27 billion, up 39 percent compared to the same period last year.
Glencore was followed by mining group Xstrata, which slipped 3.07 percent (41 pence) to finish at 1,293.
On the currency markets, a pound was worth 1.6385 dollars or 1.1321 euros at 16.57 GMT.
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