BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - U.K.'s FTSE 100 more than recouped Monday's losses amidst an anxious wait to the monetary policy pronouncements by the U.S Fed on September 22 and Bank of England on September 23.
The FTSE 100 is currently trading at 6981.42, up 1.12 percent or 77.51 points from previous close. At this level, the benchmark is 3.31 percent below the 52-week high of 7220.14.
The day's trading has been in the range of 6903.91 and 6992.60.
Only 16 scrips in the 101-scrip index are still trading lower than Monday's levels.
Asset management business Pershing Square Holdings is leading the rally with an uptick of around 4.82 percent. Royal Dutch Shell gained more than 4 percent in tandem with the rise in oil prices.
Kingfisher that supplies DIY home improvement products declined despite upbeat results as questions emerged on the company's ability to retain newfound consumers picked up during pandemic.
Data released earlier in the day showed that U.K.'s public sector net borrowing for August increased to GBP 20.5 billion versus consensus estimate of GBP 15.6 billion.
Confederation of British Industry's Order Book Balance reading rose to an all-time high of 22 in September compared to forecast of 15 and August's reading of 18 as both manufacturing and export orders recorded strong growth.
Meanwhile, Paris-based policy forum Organization for Economic Cooperation and Development (OECD) released its September report that has projected the U.K economy to grow by 6.7 percent in 2021 and 5.2 percent in 2022 as compared to a contraction of 9.8 percent in 2020.
The report has also pegged the world economy growth at 5.7 percent in 2021 and 4.5 percent in 2022 versus the 3.4 percent contraction witnessed in the pandemic-impacted 2020.
The GBPUSD pair hovered around 1.3660 as compared to 1.3657 at close on Monday.
Yields on U.K.'s ten-year bonds have declined slightly to 0.7860 percent versus previous close of 0.7970 as markets cautiously brace for Bank of England's monetary policy review on September 23.
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