FTSE 100 rises as healthcare, consumer gains eclipse fall in defence shares

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7 hours ago

A trader reacts to early market moves on the London Stock Exchange and the FTSE100 index at CMC Markets in London. (AP / Alastair Grant)
Britain's blue-chip index climbed on Monday, led by healthcare and consumer shares, but losses in defense stocks ahead of this week's renewed Russia‑Ukraine peace negotiations capped gains.
The FTSE 100 was up 0.2 per cent as of 0947 GMT. The FTSE midcap index was down 0.3 per cent.
The healthcare sector rose 1.1 per cent on Monday. Drugmaker said the U.S. Food and Drug Administration will do a priority review of its medicine to treat uncomplicated gonorrhea; its shares gained 0.8 per cent. Heavyweight AstraZeneca was also up 1.5 per cent.
British American Tobacco and spirits maker Diageo rose over one per cent each.
Retailer Marks & Spencer resumed click‑and‑collect orders for clothing after a nearly four‑month hiatus following a cyber hack and data theft, sending its shares 2.4 per cent higher.
On the flip side, a gauge of the aerospace and defence sector dropped 0.7 per cent to a more than one‑week low as a potential truce in the Russia‑Ukraine war nears.
U.S. President Donald Trump will meet Russian President Vladimir Putin on Aug. 15 in Alaska to negotiate an end to the war in Ukraine.
Trump said the parties, including Ukraine President Volodymyr Zelenskiy, were close to a ceasefire deal.
Defense stocks, among the year's best performers, lost 0.8 per cent last week as the peace efforts gained momentum.
Online trading platform Plus500 fell 2.8 per cent after weak half‑year profit margins and no upgrade to its annual forecast, making it one of the FTSE 250's top decliners.
The blue‑chip FTSE 100 index rose 0.3 per cent last week as investors weighed strong corporate earnings and a Bank of England rate decision that signaled the central bank's rate‑cutting cycle may be nearing its end.
On Monday, data showed that hiring intentions by British businesses fell to their weakest since the COVID‑19 pandemic, and recruiters said starting pay was rising at the slowest pace in more than four years, adding to signs of a weakening jobs market.
Looking ahead, U.S. inflation data is due on Tuesday, a key determinant for the Federal Reserve's interest rate decision next week.
(Reporting by Ragini Mathur in Bengaluru; Editing by Sahal Muhammed)