FTSE 100 Slightly Higher In Cautious Trade

U.K. stocks were slightly higher on Monday despite an ongoing row about tax rises by chancellor Rachel Reeves.

The benchmark FTSE 100 was up 32 points, or 0.4 percent, at 8,294 after climbing 1.4 percent on Friday.

Anglo American advanced 1.6 percent after Peabody Energy won a hotly contested battle to buy the miner’s steelmaking coal mines in Australia for $3.78bn.

Drug maker AstraZeneca edged up slightly after announcing positive high-level results from CAPItello-281 Phase III trial of Truqap (capivasertib).

Rentokil Initial rallied 2.3 percent. The commercial pest control services company announced that Paul Edgecliffe-Johnson will join the Board as Chief Financial Officer, with effect from January 1, 2025.

Home improvement retailer Kingfisher plunged more than 12 percent after lowering its profit outlook.

InterContinental Hotels Group gained 1 percent after signing new agreements with its existing issuing and financial services partners to continue offering co-branded IHG One Rewards credit cards in the U.S.

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