Weaker pound, mining stocks push blue-chip FTSE 100 higher

  • 7/9/2021
  • 00:00
  • 15
  • 0
  • 0
news-picture

(For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window) * FTSE 100 up 0.5%, FTSE 250 adds 0.3% July 9 (Reuters) - London’s FTSE 100 gained on Friday as a weaker pound helped support export-focussed stocks, but was set to end the week lower on signs that the pace of economic recovery could be slower than expected. The blue-chip FTSE 100 index rose 0.5%, powered by Glencore, Rio Tinto, Unilever and GlaxoSmithKline. Britain’s economy grew by a slower-than expected 0.8% in May from April, official data showed. A Reuters poll of economists had pointed to month-on-month growth of 1.5% in gross domestic product. The domestically focussed mid-cap index was up 0.3%. Among stocks, Vectura Group jumped 12.2% after cigarette maker Philip Morris said it will buy the pharmaceutical company in a deal valuing it at 1.05 billion pounds ($1.44 billion). British jet and auto parts supplier Senior gained 0.9% after it forecast 2021 performance to be slightly ahead of its previous expectations, encouraged by signs of recovery in the aerospace division. (Reporting by Shashank Nayar in Bengaluru) Our Standards: The Thomson Reuters Trust Principles.

مشاركة :