London stocks rise on potential Biden-Putin summit – SABC News

United Kingdom (UK) shares tracked global markets higher on Monday, as hopes of a de-escalation in Russia-Ukraine tensions bolstered appetite for risky assets.

The blue-chip FTSE 100 was up 0.6% at 0805 GMT,while the domestically focussed mid-cap index advanced 0.5%.

Mining stocks gained 1.2%, tracking copper prices that firmed on support from a weaker dollar and prospects of easing tensions in Ukraine.

The office of French President Emmanuel Macron said on Monday President Joe Biden and Russian President Vladimir Putin had agreed in principle to a summit over Ukraine.

Meanwhile, British Prime Minister Boris Johnson is expected to set out plans to scrap coronavirus restrictions, boosting sentiment further and lifting travel and leisure stocks up 1.3%.
John Menzies rose 1.2% after saying Kuwait’s National Aviation Services (NAS) has sweetened its takeover proposal for the British airport services company to about 559 million pounds.

Dechra Pharmaceuticals PLC gained 4.9% after its half-yearly revenue and profit beat expectations, while drugmaker AstraZeneca climbed 1.5% after saying its cancer drug helped patients with a type of advanced breast cancer live longer.

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