FTSE 100 ends higher as financial, medical stocks offset crude price hit
EWU•Britain’s FTSE 100 rose nearly 1% to 10,656.28 points, while the FTSE 250 gained 0.47%. Financial and medical equipment stocks advanced as investors awaited US inflation data and UK GDP figures.
1. UK indexes rise
The FTSE 100 edged higher on Monday, rising nearly 1% to 10,656.28 points, while the FTSE 250 climbed 0.47%. Financial stocks including HSBC Holdings, Standard Life, Lloyds Banking Group, Barclays, NatWest and Standard Chartered gained between 1.7% and 2.3%, and medical equipment and services shares rose 2.75%.
2. Investors watch data
Investors looked ahead to US inflation data due Wednesday and UK GDP figures for August scheduled for Thursday. Oil prices jumped 2% to $106.76 a barrel, while UK Finance Minister John Healey faced pressure ahead of his first annual budget on October 28, with higher borrowing costs and an estimated £36 billion fiscal gap to address.
