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FTSE 100 opens higher, Informa leads gains
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(Reuters) – UK’s export-oriented FTSE 100 edged higher on Monday as a weaker pound offered support, with shares of Informa jumping to the top of the index after an upbeat earnings outlook.
(Reuters) – UK’s export-oriented FTSE 100 edged higher on Monday as a weaker pound offered support, with shares of Informa jumping to the top of the index after an upbeat earnings outlook.
The blue-chip FTSE 100 was up 0.5% by 0807 GMT. The domestically-focused FTSE 250 midcap index rose 0.1% after logging its best week in almost two years.
British events organiser Informa Plc jumped 6.2% after it raised its full-year earnings outlook.
The pound dipped against a steadying dollar after Federal Reserve Governor Christopher Waller said on Sunday that the central bank was not softening its fight against inflation. [FRX/]
British miners gained 1.4%.
Meanwhile, Finance Minister Jeremy Hunt said on Sunday he will set out tax rises and spending cuts ahead of this week budget’s release.
(Reporting by Shashwat Chauhan in Bengaluru; editing by Uttaresh.V)
The FTSE 100 is a stock market index that represents the 100 largest companies listed on the London Stock Exchange, based on market capitalization.
A weaker pound refers to a decline in the value of the British pound sterling against other currencies, which can make exports cheaper and imports more expensive.
The FTSE 250 is a stock market index that includes the 250 largest companies listed on the London Stock Exchange, excluding the FTSE 100.
British miners refer to companies involved in the extraction of minerals and resources in the UK, which can be affected by commodity prices and economic conditions.
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