U.K. stocks rose on Monday as a combination of reduced Italian risks and U.S. stimulus expectations boosted investors’ appetite for risk.
U.S. House Speaker Nancy Pelosi said she believes the final $1.9 trillion Covid-19 relief legislation could pass Congress before March 15, when special unemployment benefits that were added during the pandemic expire.
The benchmark FTSE 100 rose 30 points, or half a percent, to 6,519 after closing 0.2 percent lower on Friday.
BP Plc rose 1.3 percent and Royal Dutch Shell edged up slightly after oil prices surpassed $60 a barrel on the back of tightened global oil supplies and renewed hopes over the passing of the U.S. stimulus package.
Rolls-Royce Holdings declined 1.6 percent after reports that it plans to shut down its jet engine factories this summer due to insufficient work.
Energy producer Drax gained 0.7 percent on news it would buy Canadian firm Pinnacle Renewable Energy for 11.30 Canadian dollars a share.
Market Analysis
FTSE 100 Rises On Stimulus Bets
2021-02-08 09:14:16
