• FTSE 100 up 0.5%, FTSE 250 adds 0.4%

April 2 (Reuters) - British shares started the second quarter higher, supported by a rise in energy and metal miners, while lender HSBC rose following the sale of its Canadian unit.

The globally-focussed FTSE 100 (.FTSE) , opens new tab was up 0.5% by 7:17 GMT on Tuesday, while the domestically-oriented FTSE 250 (.FTMC) , opens new tab moved 0.4% higher. Both indexes touched their highest levels in over a year.

Leading sectoral gains, precious metal miners (.FTNMX551030) , opens new tab climbed 2.7% as the dollar and Treasury yields held firm after strong U.S. data flagged doubts on the start of interest rate cut cycle.

Industrial metal miners (.FTNMX551020) , opens new tab followed with a 2.4% uptick, as concerns of tighter raw material supplies and improved demand prospects pushed copper prices higher, while oil and gas stocks (.FTNMX601010) , opens new tab rose 2%, tracking higher crude prices.

Among individual stocks, HSBC Holdings (HSBA.L) , opens new tab gained 1.7% on the prospects of recognising an estimated gain of $4.9 billion in the first quarter of 2024, as it completed the sale of its Canadian unit to Royal Bank of Canada (RY.TO) , opens new tab.

The broader banks (.FTNMX301010) , opens new tab index was up 1.2%.

($1 = 0.7973 pounds)

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https://www.reuters.com/world/uk/commodity-linked-stocks-boost-london-equities-higher-2024-04-02/