News wires — London’s
100 index climbed on Monday, helped by gains in heavyweight financials and energy stocks, while investors awaited the government’s decision on whether it would delay England’s complete reopening from a third national lockdown.
The blue-chip index rose 0.7% to touch its highest since February 2020. Oil majors BP, Royal Dutch Shell gaining 0.9% and 1.6% respectively, tracking higher crude prices.
Shell was also reviewing its holdings in the largest U.S. oil field for a potential sale, people familiar with the matter told Reuters, marking a key moment in its shift away from fossil fuels as it faces growing pressure to slash carbon emissions.
The domestically focused mid-cap FTSE 250 index advanced 0.5%.
Prime Minister Boris Johnson is expected to announce on Monday that the planned lifting of restrictions, which would see an end to limits on social contact, will be delayed following concern about the rapid rise of infections of the Delta variant of the coronavirus. Among stocks, outsourcer Serco Group jumped 5.1% after it raised its 2021 profit outlook as it expects stronger demand for its COVID-19 services in the UK. – –
- Reuters (Reporting by Devik Jain in Bengaluru; Editing by Subhranshu Sahu)