UK stocks edge higher, National Express jumps on contract win

The midcap index edged up 0.4%. National Express Group jumped 5% after the transport firm said its German rail transport business had won a 1-billion-euro ($1.09 billion) contract to operate two lines of the Rhein-Ruhr-Express in Germany until 2033.

UK's main stock edged higher rose on Monday as positive corporate updates helped offset the gloom around the region's economic outlook, with shares of National Express surging after a contract win.

The blue-chip FTSE 100 edged up 0.1% to 7,778.0 after posting a loss last week on worries about a recession and hawkish comments from central banks. The midcap index edged up 0.4%.

National Express Group jumped 5% after the transport firm said its German rail transport business had won a 1-billion-euro ($1.09 billion) contract to operate two lines of the Rhein-Ruhr-Express in Germany until 2033. Dignity Plc gained 7.8% after the funeral services provider said it would be acquired by a consortium of investment firms in a deal valued at 281 million pounds ($349 million).

Among the laggards, Fuller Smith & Turner fell 6.9% as the pub group forecast full-year earnings would come in below market expectations as several tube and train strikes affected their sales.