Heavyweight banks push FTSE 100 higher after BoE scraps dividend curbs By Reuters

(Reuters) – London’s FTSE 100 rose on Tuesday as heavyweight banks jumped after the Bank of England scrapped dividend curbs, but worries over rising coronavirus infections kept gains in check.

Banks gained 2%, the most among sectors, after the Bank of England scrapped pandemic-era curbs on dividends from HSBC, Barclays (LON:BARC) and other top lenders with immediate effect.

The blue-chip FTSE 100 index rose 0.3%, with HSBC, Barclays and Natwest Group being the top boosts.

The mid-cap FTSE 250 index gained 0.2%.

British retailers climbed 0.5% after they reported a record annual increase in sales for the three months to the end of June.

Among stocks, British Telecom gained 0.3% after Italy’s competition watchdog said it had cleared, with conditions, Telecom Italia (MI:TLIT)’s proposed acquisition of some of the British telecom group’s business units.

UK commercial property firm British Land Co Plc (LON:BLND) jumped 1% after it said it had seen a notable improvement in activity across its businesses after the lifting of lockdowns.