London’s FTSE 100 rose on Monday afternoon, driven by a rally in supermarket shares.
The capital’s premier index added 0.56 per cent to reach 7,163 in the afternoon session, paring back this morning’s losses.
The gains were partly caused by shares in supermarkets rising in afternoon trading after Apollo Global Management announced it was considering making a rival bid for the UK’s fourth largest supermarket, Morrisons.
The mid cap FTSE 250 climbed 1.06 per cent, driven by an 11 per cent surge in Morrisons’s share price, while AIM shares were down 0.11 per cent in the afternoon.
The pound appreciated against its US rival, adding 0.17 per cent against the greenback to buy $1.38.
Winners and losers
The day’s best performer was British Airways parent group IAG, surging 5.36 per cent, driven by new figures released today showing corporate air travel was rebounding sharply.
Bank Barclays ranked second, up 3.06 per cent in afternoon trading. Betting company Entain came third, increasing 2.95 per cent.
The day’s worst performer was miner Polymetal International, losing 1.38 per cent.
Takeaway delivery company Just Eat Takeaway was the second worst performer, dipping 1.31 per cent, while software company Aveva came third, clipping 1.21 off its share price in the afternoon session.
Read more: The City View, with Wise’s Matt Briers
Around the world
The strong performance among shares in London was extended across the pond, with both the US’s leading benchmarks up during the open.
The blue chip S&P 500 rose 0.54 per cent to 4,352, while the tech-heavy Nasdaq added 0.81 per cent.
Asian shares were down today on concerns that China could intensify its crackdown on local technology companies.
Japan’s Nikkei index dropped 0.64 per cent and Hong Kong’s Hang Seng lost 0.59 per cent.
European shares recorded a strong day, with the Stoxx 600 adding 0.37 per cent.