UK stocks rebound at start of data-heavy week

Ceres Power Holdings

11/11/2024 12:08

(For a Reuters live blog on U.S., UK and European stock
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        * 
      European markets stabilise
    

        * 
      Eyes on U.S., UK data this week 
    

        * 
      Aquis Exchange soars on SIX Group buyout 
    

        * 
      FTSE 100 up 0.8%, FTSE 250 up 1.1%
    

  
       Nov 11 (Reuters) - The UK'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 UK monetary policy.
    The blue-chip FTSE 100  .FTSE  rebounded 0.8% from a
three-month low touched in the prior session, while the midcap
FTSE 250 index  .FTMC  climbed 1.1%. 
    UK stocks have been choppy since Republican Donald Trump was
elected U.S. president last week, raising concerns about a
potential trade war affecting European economic growth.
Meanwhile, underwhelming stimulus steps from China have hurt
commodity prices, in turn weighing on mining stocks.
    The FTSE 350 mining sector  .FTNMX551020  came under fresh
pressure on Monday, down 0.5%, as most base metals slipped due
to top consumer China's latest stimulus package falling short of
investors' expectations.
    Market participants are looking ahead to U.S. inflation data
on Wednesday as well as UK labour market data and September GDP
data this week for hints on how far and fast the Federal Reserve
and the Bank of England will cut rates this year and next. 
    Croda  CRDA.L  rose 4.7%, leading gainers among the FTSE 100
components, after the chemical group posted a 5% growth in
third-quarter group sales.
    NatWest  NWG.L  rose 2.9% after the bank said it bought back
1 billion pounds ($1.29 billion) worth of its own shares from
Britain's government.
    Ceres Power  CWR.L  jumped 8%, leading gains in the midcap
index, after Jefferies upgraded the developer of clean energy
technology to "buy" from "hold" following recent license
contracts with Denso in Japan and Delta in Taiwan.
    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 in Bengaluru; Editing by Vijay
Kishore)
 ((sruthi.shankar@thomsonreuters.com; within U.S. +1 646 223
8780; outside U.S. +91 80 6182 2787;))
 
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 Market digest:       .AD.L           Top 10 by vol:      .AV.L  
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