FTSE 100 inches higher on oil stocks, AstraZeneca boost; Playtech jumps

  • 11/8/2021
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(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 0.1%, FTSE 250 flat Nov 8 (Reuters) - London’s FTSE 100 inched higher on Monday, led by energy and mining stocks, while online gambling firm Playtech jumped after receiving a takeover bid from its second-biggest shareholder. The blue-chip FTSE 100 index rose 0.1% by 0820 GMT, with oil stocks and precious metals miners leading the gains. AstraZeneca was the biggest boost to the index on receiving a U.S. food and drug administration (FDA) “fast track” designation for its gastritis drug. Banking shares dropped 0.6% and limited further gains in the FTSE 100, with benchmark 10-year bond yields hovering near their one-month lows on a dovish central bank policy last week. The domestically focussed mid-cap index was flat. Playtech Plc rose 2.4% after it received a takeover offer from its second-biggest shareholder, Gopher Investments, on Sunday. British defence company BAE Systems slipped 0.4% even after it stuck to its guidance for earnings to grow by 3% to 5% this year over 2020’s result and said demand for its products and services remained high. (Reporting by Shashank Nayar in Bengaluru; Editing by Subhranshu Sahu)

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