By Khushi Singh
(Reuters) -Britain’s FTSE 100 climbed on Monday, set to snap a three-session losing streak, supported by a rise in luxury stocks such as Burberry and Diageo, while precious metal miners slipped on lower gold prices as bets on early interest rate cuts receded.
Both the blue-chip FTSE 100 and the midcap FTSE 250 added 0.2% by 9:13 GMT.
The personal goods index rose 2.3%, leading sectoral gains, as luxury retailer Burberry climbed 2.3% and Watches Of Switzerland Group rose 3.6%.
Luxury spirits maker Diageo gained 0.7%, lifting the broader beverages sector 0.6%.
Precious metal miners slipped 0.6%, hurt by a decline in gold prices, as the dollar and Treasury yields surged after stronger-than-expected U.S. jobs data dampened bets of early rate cuts.
“With (Federal Reserve chair) Jerome Powell reiterating three rate cuts for the year, it remains debatable as to whether gold can rally from here,” said Matt Simpson, a…
