London stocks rise supported by consumer staples and banks

Sept 4 (Reuters) - London shares rose on Thursday, led by gains in consumer staples and bank stocks, while investors assessed corporate updates.

The blue-chip FTSE 100 .FTSE closed up 0.4%, while the domestically focussed midcap index .FTMC rose 0.8%.

Retail stocks .FTNMX404010 were boosted by Currys' CURY.L 15.6% rise after the electricals retailer said group sales rose 3% in the summer period (for the 17 weeks to the end of August) putting it on track to meet forecasts. Currys also launched a 50 million pound ($68 million) share buyback.

Other major retailers such as JD Sports Fashion JD.L, Frasers FRAS.L and Next NXT.L also advanced.
Consumer staples stocks rose, with Tesco TSCO.L up 1.8%.

Heavyweight bank stocks .FTNMX301010 gained 1.2%, with NatWest NWG.L up 1.5%, Barclays BARC.L adding 2.2%, and Lloyds LLOY.L up 2.1%.

Around 3,000 Lloyds employees judged to be among the bottom 5% of performers will be considered for possible dismissal, a source familiar with the matter told Reuters .

Communication services stocks such as Airtel Africa AAF.L and Auto Trader AUTOA.L each added about 2.3%, while Rightmove RMV.L advanced 2.9%.

Conversely, precious metal miners .FTNMX551030 fell, tracking lower gold prices. Endeavour Mining EDV.L down 1.7%, while Hochschild Mining HOCM.L fell 3.5%. GOL/

Industrial miners .FTNMX551020 also declined, with Anglo American AAL.L down 1.2%.

In other moves, low-cost airline and travel firm Jet2 JET2.L lost 12.5% after forecasting lower profit. Peer EasyJet EZJ.L fell 4.2% to the bottom of the FTSE 100.

Animal genetics firm Genus GNS.L rose 10.4% on strong annual profit growth and China joint venture acceleration.

Meanwhile, stability returned to bond markets following a rout earlier this week when concerns over Britain's finances and the government's ability to keep them under control briefly sent yields on 30-year British government bonds GB30YT=RR, or gilts, to their highest since 1998.

Investors, however, continue to speculate about tax rises that could dampen economic growth with Britain set to deliver its budget on November 26.

On the data-front, activity in Britain's construction sector slowed for the eighth month in a row in August, extending its longest downturn since 2020.

A BoE survey showed British firms reported a slight rise in the year-ahead inflation expectations.

Investors are awaiting July retail sales data due on Friday.

Stocks including Antofagasta ANTO.L and Admiral Group ADML.L fell 2.3% and 1.5%, respectively, as they traded ex-dividend.