U.K. stocks edged up slightly on Monday after a survey showed the country’s services sector continued to rebound from the pandemic.
The latest IHS Markit/CIPS Purchasing Managers’ Index for the sector edged down to 62.4 from 62.9 in May but was slightly higher than a preliminary June reading of 61.7.
Job creation was the fastest for seven years while price pressures jumped by the most on record, adding to inflation concerns.
The benchmark FTSE 100 rose 12 points, or 0.2 percent, to 7,135 after ending marginally lower on Friday.
Shares of Wm Morrison Supermarkets soared 11 percent after the company reached agreement to be acquired by Fortress Investment Group (UK) Ltd. for 254 pence per share in cash and dividend.
Travel stocks gained ground, with Ryanair Holdings, EasyJet and IAG climbing 1-3 percent as tourism and aviation bosses urged the government to add more destinations to the U.K.’s green list for international travel.
Glencore advanced 1.8 percent. The commodity company has announced the appointment of Kalidas Madhavpeddi as the new Chairman on July 30.
Market Analysis
FTSE 100 Edges Higher On Economic Optimism
2021-07-05 09:26:13
