FTSE 100 Rises Ahead Of PM's Press Conference

U.K. stocks were modestly higher on Monday after the G7 summit ended with a pledge to continue to support economies with investment until pandemic subsidies.

Investors await a decision by the government later in the day on whether to delay England's reopening from a third national lockdown.

Amid rising infections of Delta variant of coronavirus, Prime Minister Boris Johnson is expected to announce a four-week delay to an end to all legal lockdown restrictions in the country.

The benchmark FTSE 100 rose 25 points, or 0.4 percent, to 7,160 after ending 0.7 percent higher on Friday.

Outsourcer Serco Group surged 4.6 percent after upgrading its profit guidance.

Luxury clothing retailer Ted Baker rallied 4 percent. After reporting a wider loss for its fiscal 2021, the company said the performance of Ted Baker stores since their reopening in April was "very pleasing".

Royal Dutch Shell jumped nearly 2 percent on a Reuters report that the energy giant is reviewing its holdings in the largest U.S. oil field for a potential sale.

British Airways parent IAG fell 2.4 percent, airline EasyJet dropped 1.6 percent and Wizz Air Holdings gave up 1.1 percent on concerns over possible delay to the lockdown lifting.

For comments and feedback contact: editorial@rttnews.com

Market Analysis

Follow RTT