UK stocks rebound as investors await key data (updated)

Ceres Power Holdings

11/11/2024 17:12

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      European markets stabilise
    

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      Eyes on U.S., UK data this week 
    

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      Aquis Exchange soars on SIX Group buyout 
    

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      FTSE 100 up 0.7%, FTSE 250 up 1%
    

  
 (Updated at 1651 GMT)
    By Sruthi Shankar and Nikhil Sharma
       Nov 11 (Reuters) - Britain's main stock indexes rose on
Monday, joining a broad rally in European markets, as investors
awaited key economic data this week for clues on the path of
U.S. and British monetary policy.
    The blue-chip FTSE 100  .FTSE  rebounded 0.7% from a
three-month low touched in the prior session and ended its
four-day streak of losses. The midcap FTSE 250 index  .FTMC 
climbed 1%.
    Across the Atlantic, Wall Street traders extended last
week's stock rally fuelled by Donald Trump's re-election as U.S.
president.  .N 
    British stocks have been choppy since last week, when
Trump's election victory raised concerns about a potential trade
war hurting European economic growth. Underwhelming stimulus
steps from China also hurt commodity prices, in turn weighing on
mining stocks.
    The FTSE 350 mining sector  .FTNMX551020  came under fresh
pressure on Monday, down 1.8%, as most base metals slipped due
to top consumer China's latest stimulus package falling short of
investors' expectations.
    The precious metals and mining sector  .FTNMX551030  slid
5.2% as gold prices fell due to stronger dollar as markets
expect the Federal Reserve to adopt a cautious approach to
policy easing under Trump's administration.  GOL/ 
    Investors are awaiting U.S. inflation data as well as
British labour market data and September GDP data later this
week for hints on how far and fast the Fed and the Bank of
England will cut rates this year and next. 
    Croda  CRDA.L  rose 5.2%, leading gainers among the FTSE 100
components, after the chemical group posted a 5% growth in
third-quarter group sales. It boosted the chemicals sector, 
 .FTNMX552010  up 3.4%.
    NatWest  NWG.L  gained 3.7% after the bank said it bought
back 1 billion pounds ($1.29 billion) worth of its own shares
from Britain's government.
    Kainos Group  KNOS.L  jumped 6.2%, among top gainers in the
midcap index, after the IT software provider reported a 1% rise
in half-year adjusted pre-tax profit to 38.2 million pounds
($49.2 mln).
    Aquis Exchange Plc  AQX.L  soared 113% after Swiss stock
exchange operator SIX Group said it had agreed to buy the
UK-based financial markets service provider in a cash offer that
values the business at 207 million pounds ($266.91 million).

 (Reporting by Sruthi Shankar and Nikhil Sharma in Bengaluru;
Editing by Vijay Kishore and Alex Richardson)
 ((sruthi.shankar@thomsonreuters.com; within U.S. +1 646 223
8780; outside U.S. +91 80 6182 2787;))
 
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For related prices, Reuters users may click on - * 
 UK stock report      .L     
 FTSE index:          0#.FTS6  
 techMARK 100 index:  .FTT1X          FTSE futures:      0#FFI:  
 Gilt futures:        0#FLG:          Smallcap index:     .FTSC  
 FTSE 250 index:      .FTMC           FTSE 350 index:     .FTLC  
 Market digest:       .AD.L           Top 10 by vol:      .AV.L  
 Top price gainers:   .NG.L           Top % gainers:      .PG.L  
 Top price losers:    .NL.L           Top % losers:       .PL.L  
 
 
 * For related news, click on - *
 UK hot stocks:       HOT  and  GB      Wall Street:           .N 
 Gilts report:        GB/             Euro bond report  GVD/EUR 
 Pan European stock report:  .EU 
 Tokyo stocks:        .T              HK stocks:            .HK 
 Sterling report:     GBP/            Dollar report:       USD/ 
 
 
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 Company directory:   UKEQ           By sector:           FTAX  
 
 
 * For pan-European market data, click on - *
 European Equities speed guide................  EUR/EQUITY  
 FTSE Eurotop 300 index...........................  .FTEU3  
 DJ STOXX index...................................  .STOXX  
 Top 10 STOXX sectors........................  .PGL.STOXXS  
 Top 10 EUROSTOXX sectors...................  .PGL.STOXXES  
 Top 10 Eurotop 300 sectors..................  .PGL.FTEU3S  
 Top 25 European pct gainers....................  .PG.PEUR  
 Top 25 European pct losers.....................  .PL.PEUR ))