The blue-chip FTSE 100 index rose 0.1% to 10,757.91 points by 1022 GMT, while the mid-cap FTSE 250 slipped 0.2%
International News via Reuters:
Britain’s FTSE 100 edged higher on Monday, on track to end six straight days of losses, as strength in mining stocks, AstraZeneca and Rolls-Royce offset broader caution ahead of this week’s UK inflation figures.
The blue-chip FTSE 100 index rose 0.1% to 10,757.91 points by 1022 GMT, while the mid-cap FTSE 250 slipped 0.2%.
• AstraZeneca rose 0.9% after reporting results from two of its late-stage lung cancer trials. The drugmaker said its Tagrisso-Orpathys combination and Daiichi Sankyo-partnered Enhertu met key goals, though it discontinued a separate late-stage study of volrustomig plus chemotherapy in patients with metastatic non-small cell lung cancer.
• Shares of miners offered among the biggest boosts to the FTSE 100 index as gold prices firmed and copper started the week strongly. Fresnillo climbed 1.9% and Antofagasta added 1.5%. Glencore and Anglo American gained between 1.3% and 1.8%.
• Rolls-Royce climbed 1.8% after Morgan Stanley and Citigroup raised their price targets on the firm.
• On the downside, Unilever fell 1.3%, Tesco lost 1.6% and BP slipped 0.8%, making them among the biggest drags on the blue-chip index.
• Global shares edged higher and the dollar slipped towards two-month lows after a run of soft U.S. economic data, including an unexpected drop in retail sales, saw markets reduce bets for an imminent rate hike from the Federal Reserve.
• Traders were also keeping a close eye on UK job market data due on Tuesday and inflation data on Wednesday for further clues on the Bank of England’s policy path.
• Separately, British employers remained reluctant to hire and business confidence stayed near its weakest levels outside the COVID-19 pandemic, according to a survey published by the Chartered Institute of Personnel and Development.
• In the housing market, asking prices for newly listed homes posted their biggest August fall since 2018, property website Rightmove said.
• Britain’s sovereign credit rating was maintained at “AA-“, with a stable outlook, by Fitch late on Friday.
• Among other stocks, Time Finance jumped 9.5% after investment vehicle Bentley Park Ltd. agreed to acquire the SME lender for about £55.1 million ($74.75 million).
($1 = £0.7371)
Reporting by Anand Gopal
