Business Express is an online portal that covers the latest developments in the world of business and finance. From startups and entrepreneurship to mergers and acquisitions, Business Express provides reporting on the stories that matter most to business leaders and decision-makers.The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.
2024 10 28T091550Z 1 LYNXMPEK9R08M RTROPTP 4 BRITAIN STOCKS
2024 10 28T091550Z 1 LYNXMPEK9R08M RTROPTP 4 BRITAIN STOCKS

London stocks climb, energy shares keep gains in check


By Shubham Batra

(Reuters) – The UK’s benchmark FTSE 100 index rose on Monday, led by travel and leisure shares as Trainline jumped following a guidance upgrade, but remained under some selling pressure from energy shares tracking lower oil prices.

The blue-chip FTSE 100 was up 0.2% by 0900 GMT, while the midcap FTSE 250 rose 0.4%.

Travel and leisure sector rose 2% after the online train ticket seller Trainline advanced 10.5%. The company raised its full-year revenue forecast and now expects annual revenue to grow 11%-13%, up from an earlier view of the top-end of 7%-11% range.

Shares of EasyJet and British Airways-owner IAG were up by 4.1% and 2.5%, respectively, boosted by the prospect of lower fuel costs.

London stocks ended the week with losses on Friday as investors assessed a mixed bag of earnings and investors awaited the first budget from the country’s new government On Oct. 30.

Energy shares tumbled 1.8% as oil prices slid more than $3 a barrel after Israel’s retaliatory strike on Iran over the weekend bypassed Tehran’s oil and nuclear facilities and did not disrupt energy supplies. [O/R]

Both BP and Shell were down nearly 1.7% each, weighing on the index.

Don't miss out on any breaking news or insightful opinions!
Subscribe to our free newsletter and stay updated on the go!


By submitting this form, you are consenting to receive marketing emails from: Global Banking & Finance Review. You can revoke your consent to receive emails at any time by using the SafeUnsubscribe® link, found at the bottom of every email.

Hurting gains further, precious metal miners were down 1.3% tracking lower gold prices against a stronger U.S. dollar.

Meanwhile, British business confidence sank to a four-month low in October ahead of the first budget plan from the country’s new government, a survey showed on Monday, echoing other signs of corporate nervousness about possible tax increases.

Investors are squarely-focussed on the budget scheduled for Oct. 30 where UK’s finance minister Rachel Reeves faces a tough task of raising the tax revenues needed to invest more in public services and new infrastructure.

 

(Reporting by Shubham Batra in Bengaluru; Editing by Janane Venkatraman)

 

Recent Post: