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London stocks rise amid broader gains, commodity shares limit climb



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Trainline jumps on raising annual forecast

Melrose tops FTSE 100 on risk-, revenue-sharing explainer

All eyes on Oct 30 budget

FTSE 100 up 0.43%, FTSE 250 up 0.14%

Updated at 1601 GMT

By Shubham Batra and Nikhil Sharma

Oct 28 (Reuters) - The UK's benchmark FTSE 100 rose on Monday in a broader rally led by travel and leisure shares, as well as aerospace and defence stocks, though losses in commodity-linked companies restricted overall gains.

The blue-chip FTSE 100 .FTSE gained0.43% by 1601 GMT, while the midcap FTSE 250 .FMTC was up 0.14%.

The traveland leisure sector .FTNMX405010 rose 1.38% after online train ticket seller Trainline TRNT.L advanced 9.5%. The company raised its full-year revenue forecast for the second time in less than two months.

Additionally, Melrose's MRON.L shares rose 9.3%, topping the blue chip index and lifting the aerospaceand defence sector .FTNMX502010 0.9%, as aerospace components supplier released risk- and revenue-sharingpartnerships explainer.

In contrast, precious metal miners .FTNMX551030 led the sectoral losses and slipped 1.7% as gold prices came under pressure against a stronger U.S. dollar and Treasury yields. GOL/

Similarly, energy shares .FTNMX601010 fell 1.6% as oil prices slid around $5 a barrel after Israel's retaliatory strike on Iran avoided Tehran's oil and nuclear facilities and did not disrupt energy supplies. O/R

Both BP BP.L and Shell SHEL.L were down over 1.6% each, while Ithaca Energy ITH.L was the biggest drag on the sector and lost 2.4%.

Meanwhile, British business confidence sank to a four-month low in October ahead of the first budget plan from the country's new government, a survey showed on Monday, echoing other signs of corporate nervousness about possible tax increases.

Investors paid attention to the budget scheduled for Oct. 30, where UK's finance minister, Rachel Reeves, faces a tough task of raising the tax revenues needed to invest more in public services and new infrastructure.

On Monday, Prime Minister Keir Starmer backed the case of lifting taxes to rebuild public services and fix the foundations of the economy.

The Bank of England's monetary policy decision is due nextweek, where the top bank is widelyexpected to trim interest rates by 25 basis points. 0#BOEWATCH



Reporting by Shubham Batra and Nikhil Sharma in Bengaluru; Editing by Janane Venkatraman and Maju Samuel

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