British Stocks Climb as Banks and Miners Lead Gains

British stocks rose on Tuesday, driven by gains in bank and mining stocks, as the market anticipates key rate decisions from the Bank of England and the Federal Reserve. HSBC and gold miners were among top performers, while Britain's Labour government announced welfare budget cuts amidst economic growth concerns.

British stocks experienced a positive close on Tuesday, primarily fueled by significant performances in the mining and banking sectors. This uplift comes in anticipation of the Bank of England's upcoming rate decision later in the week.

The FTSE 100 index extended its winning streak to five days with a 0.3% increase, while the banking sector rose by 2.2%, marking the day's largest sectoral advance. Notably, HSBC surged by almost 2%, contributing significantly to the index's gains.

Meanwhile, precious metal miners climbed 1.8%, driven by a new peak in gold prices against the backdrop of geopolitical uncertainties and U.S. trade policies. In the broader financial context, the week is poised to pivot on the Federal Reserve's interest rate decision, as markets watch closely for hints of future rate cuts.

(With inputs from agencies.)