British stocks inch higher as lockdown measures ease further

UK shares edged higher on Monday as market participants cheered the easing of more lockdown measures, with consumer stocks among the best performers while energy stocks tracked a fall in oil prices.

Reuters | London | Updated: 29-03-2021 13:20 IST | Created: 29-03-2021 12:53 IST
British stocks inch higher as lockdown measures ease further
Representative Picture. Image Credit: Flickr

UK shares edged higher on Monday as market participants cheered the easing of more lockdown measures, with consumer stocks among the best performers while energy stocks tracked a fall in oil prices. The blue-chip FTSE 100 index was up 0.1%, with consumer staples stocks including Diageo Plc, Unilever Plc and British American Tobacco rising between 0.7% and 1.4%.

Oil heavyweights BP and Royal Dutch Shell were among the biggest drags, as oil prices slumped more than 2%. Prime Minister Boris Johnson urged Britons to be cautious as a stay-at-home order and some other lockdown measures ended, citing rising cases in other parts of Europe and the threat posed by new variants of the virus.

The domestically focused mid-cap FTSE 250 index climbed 0.1%, led by real estate stocks. Online car seller Cazoo Holdings Ltd said it had agreed to go public in New York through a merger with AJAX I Acquisition Corp, a blank-check acquisition company led by billionaire U.S. investor Dan Och.

Food delivery company Deliveroo has seen investor demand for its initial public offering exceed the full deal size, setting the stage for London's biggest IPO in a decade.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)


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