London Stocks Surge Amidst Retail Boost and Weakening Sterling

London stocks experienced an upswing on Tuesday, influenced largely by gains in the retail sector and a weakening sterling that benefited the exporter-heavy FTSE 100 index.

The FTSE 100 increased by 0.23% as of 0959 GMT, supported by a major 15.2% jump in Kingfisher stocks after the home improvement retailer improved its full-year profit projection, following a more positive first-half outcome than anticipated. The FTSE 250 also saw growth, climbing 0.82%.

In the broader landscape, a slowdown in British business activity and concerns over impending tax hikes in November were reported, although attention was firmly on the Bank of England's policy decisions and the potential inflation impacts. Meanwhile, healthcare stocks fell, notably Oxford BioMedica, which declined 9.2% following its half-year results.

(With inputs from agencies.)