The FTSE 100 demonstrated upward movement on Monday, recovering after a slight setback towards the end of the previous week. Several companies experienced notable gains, while others faced declines amid broader economic news regarding wage growth and political developments in France.
- The FTSE 100 edged higher on Monday.
- Vistry climbed over 3.5% after a partnership with Homes England.
- Marks & Spencer rose more than 3% after a Citigroup upgrade.
- Shell and BP advanced by over 0.5% as crude prices firmed.
- Phoenix Group slipped nearly 7% despite stronger profits due to rebranding plans.
- UK wage growth for new hires slowed, indicating a softer labour market.
- French Prime Minister Francois Bayrou is expected to lose a confidence vote.
Overall, the market’s performance appears to be driven by a mix of company-specific news and broader economic factors. Positive developments for individual companies in sectors like homebuilding and retail contributed to gains, while concerns about inflationary pressures and political uncertainty added a degree of complexity. The performance of the asset is reflective of both internal company strategies and external economic conditions.