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FTSE 100 up 0.3%, FTSE 250 adds 0.3%
March 29 (Reuters) - UK stocks edged higher on Wednesday, supported by gains in banks amid easing fears of a financial sector meltdown, while shares of export-focused energy and materials companies gained as the pound weakened. The exporters-heavy FTSE 100 rose 0.3% as the pound slipped 0.2% . Energy firms were up 0.4%, tracking strength in crude oil prices as a halt to some exports from Iraqi Kurdistan raised concerns of tightening supplies. Industrial metals and precious metals miners rose 0.1% and 0.5%, respectively. Late on Tuesday, John Glen, chief secretary to the UK Treasury, told Reuters that Britain's banks had not seen deposit outflows in reaction to the failures of U.S. regional lenders. Shares of UK lenders gained 0.7%. Next PLC slumped 5.3% after the fashion retailer reiterated its cautious outlook. However, the company reported a rise in annual profit.
(Reporting by Johann M Cherian in Bengaluru; Editing by Subhranshu Sahu)
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