U.K. stocks rallied on Monday as HSBC reported strong quarterly results and U.S. senators finalized details of a $1 trillion infrastructure plan.
Britain’s factories reported a further slowing of growth in July due to shortages and supply chain problems caused by the COVID-19 pandemic, in line with expectations.
The Bank of England looks set to raise its forecasts for inflation on Thursday, at the end of its August meeting.
The benchmark FTSE 100 jumped 73 points, or over 1 percent, to 7,104 after declining 0.7 percent on Friday. Rival Lloyds Banking Corp advanced 1.5 percent.
Aerospace company Meggitt soared as much as 57 percent after it agreed to a takeover offer from Parker-Hannifin Corp.
Jet and auto parts supplier Senior Plc surged 6.2 percent after raising full-year expectations.
HSBC Holdings shares gained 1 percent after the Asia-focused lender reported that its first-half profit more than doubled.
NatWest Group rallied 2.4 percent after unveiling plans to distribute capital to shareholders.
FTSE 100 Rallies As HSBC Profits Surge
2021-08-02 09:40:10
