London's FTSE 100 opens higher on miners' boost

The central bank is widely expected to keep rates at current levels in the upcoming meeting, although the focus will be on ascertaining the timing of the first rate cut.

The UK's FTSE 100 inched higher on Monday as metal miners rose on upbeat economic data from China, while losses in consumer healthcare firm Haleon after Pfizer's stake sale weighed on the index.

Base metal miners gained 0.9%, propped by upbeat industrial output and retail sales data from top metal consumer China, in turn lifting the resource-heavy FTSE 100 0.2% as of 0823 GMT. Shares of Reckitt Benckiser jumped 5.7% and also boosted the benchmark index after slumping around 14% on Friday.

On the flip side, Haleon was among the worst performers, down 2.3% after U.S. drugmaker and top shareholder Pfizer said it would reduce its stake in the toothpaste maker to about 24%. The mid-cap FTSE 250 edged 0.2% lower, led by an 11% fall in Marshalls as the landscaping and roofing products supplier flagged lower revenue for 2024 on slower-than-expected recovery.

Investors' focus this week would be on the domestic inflation data for February due on Wednesday, a day before the Bank of England's interest rate decision. The central bank is widely expected to keep rates at current levels in the upcoming meeting, although the focus will be on ascertaining the timing of the first rate cut.