• FTSE 100 up 0.3%, FTSE 250 up 0.2%
• Precious metal miners lead broader gains
• Barratt Developments falls after forecasting fall in homebuild targets
• US Fed Chair Powell's comments on tap

July 10 (Reuters) - London stocks rebounded on Wednesday amid broad-based gains after a slew of corporate updates, while investors awaited Federal Reserve Chair Jerome Powell's testimony to gauge the U.S. central bank's monetary policy path.

The blue-chip FTSE 100 index (.FTSE) New Tab, opens new tab was up 0.3%, after logging its worst day in nearly a month on Tuesday, while the mid-cap FTSE 250 index (.FTMC) New Tab, opens new tab was up 0.2% at 0722 GMT.

Travel and leisure stocks (.FTNMX405010) New Tab, opens new tab rose 0.9%. SSP Group (SSPG.L) New Tab, opens new tab jumped 8.7% after the restaurant operator stuck to its fiscal year forecasts.

Precious metal miners (.FTNMX551030) New Tab, opens new tab advanced 1.2% as gold prices steadied ahead of a crucial U.S. inflation report.

Homebuilders (.FTNMX402020) New Tab, opens new tab were the biggest laggards on the index, declining 1%. Barratt Developments (BDEV.L) New Tab, opens new tab, down 3%, hit the bottom of the FTSE 100 index after forecasting an up to 7% fall in its homebuild targets for fiscal year 2025.

Energy (.FTNMX601010) New Tab, opens new tab and industrial metal miners (.FTNMX551020) New Tab, opens new tab dipped 0.2% and 0.4%, respectively, in tandem with oil and copper prices.

Investor focus is now on the second day of Powell's Congressional testimony. He stated on Tuesday that a rate cut would not be appropriate before the Fed gains more confidence in cooling inflation.

The comments come ahead of the crucial U.S. consumer price index figures and Britain's GDP numbers, both due on Thursday.

Bank of England's chief economist Huw Pill is also scheduled to speak at the UK's Asia House think tank later in the day.

Travis Perkins (TPK.L) New Tab, opens new tab climbed 2.6% after the construction firm named Pete Redfern as its next CEO.

IAG (ICAG.L) New Tab, opens new tab topped the FTSE 100, gaining 3.2%, after Morgan Stanley upgraded the British Airways owner to "Overweight" from "Underweight".

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https://www.reuters.com/world/uk/london-stocks-climb-investors-take-corporate-updates-powells-comments-focus-2024-07-10/