U.K. stocks rose on Thursday after U.S. President Joe Biden unveiled a sweeping $2.3 trillion spending plan that includes investments in roads, railways, broadband, clean energy and semiconductor manufacture.
Encouraging manufacturing data also boosted hopes for a swift economic recovery. IHS Markit’s closely-watched purchasing managers’ index (PMI) scored 58.9 in March — a 121-month high and ahead of forecasts.
The benchmark FTSE 100 climbed 45 points, or 0.7 percent, to 6,758 after closing 0.9 percent lower on Wednesday.
Clothing company Next Plc jumped 2.2 percent after upgrading its full-year guidance.
Food delivery firm Deliveroo’s shares were down 2 percent after plunging by as much as 30 percent on market debut the previous day.
3i Infrastructure edged up slightly. The investment company has agreed to invest about €182 million to acquire a 60 percent stake in DNS:NET and to provide additional funding for the future growth of the business.
John Laing Group gained 0.7 percent after it completed the sale of its Irish wind farm, Glencarbry, to Greencoat Renewables for a total consideration of 31.2 million euros.
Market Analysis
FTSE 100 Rises On Biden Plan
2021-04-01 09:42:13
