* FTSE 100 index rises 0.2 percent
* Focus on data, comments from central bankers
* Basic resources stocks lead the market higher
By Atul Prakash
LONDON, July 15 Britain's top share index edged
higher on Tuesday, with focus shifting to economic data and
comments from central bankers for clues to the market's next
The blue-chip FTSE 100 index was up 0.2 percent at
6,760.34 points by 0807 GMT after closing 0.8 percent higher on
Monday. The index fell to a 2 1/2-month low earlier this month,
the recovered slightly.
Investors were looking to UK inflation data, Germany's ZEW
sentiment index and U.S. retail sales numbers on Tuesday. Bank
of England Governor Mark Carney and U.S. Federal Reserve Chair
Janet Yellen were also scheduled to speak.
"Expected comments from central bankers remain front and
centre, whilst a number of scheduled U.S. corporate results
later today are also likely to provide direction to the market,"
said Keith Bowman, equity analyst at Hargreaves Lansdown.
"However, with central bankers still standing squarely
behind markets, few alternatives to equities appealing and early
second-quarter U.S. corporate results beating expectations, any
weakness is likely to be seen as a buying opportunity."
Carney and members of the Financial Stability Committee will
appear in front of parliament's Treasury Committee. Last month,
the bank imposed its first limits on how much most people can
borrow to buy a home, in a bid to stem increasing levels of debt
and rapidly rising house prices.
Yellen will testify on Fed policy before the Senate Banking
Committee. Analysts at Societe Generale expected Yellen to keep
her recent, dovish tone of despite improvements in labour market
conditions and housing activity.
"Given the still elevated dependency on accommodative policy
Yellen's testimony will be watched very closely. Data may
optically be telling us that a recovery in the U.S. is under way
but the underlying picture is incredibly weak," Jeremy
Batstone-Carr, head of private client research at Charles
Tuesday's gains were led by basic resources stocks. The UK
mining index rose more than 1 percent on
expectations that a gradual global economic recovery will
improve demand for metals.
Global miners Rio Tinto and BHP Billiton
Anglo American rose 1.6 percent and 1.4 percent
respectively, while Anglo American was up 1.6 percent.
(Reporting by Atul Prakash; Editing by Larry King)