LONDON: London's FTSE 100 rose on Monday, lifted by oil stocks as crude prices jumped after doctors treating US President Donald Trump for COVID-19 hinted that he was doing well, while Cineworld fell sharply after it said it was considering temporarily closing all US and UK screens.
The blue-chip index rose for a third consecutive session to hit its highest level since Sept. 18, led by gains in oil majors BP and Royal Dutch Shell. The mid-cap FTSE 250 index rose 1.1%. Shares of Cineworld slumped 36.2% after the world's second-biggest cinema operator said it was considering temporarily closing all its screens in the United States and Britain after studios pulled major releases.
Engineering company Weir Group Plc gained 15.9% after it said it had agreed to sell its oil and gas division to US heavy equipment maker Caterpillar Inc for $405 million in cash.
Shares of the telecom operator Vodafone rose 4.7% after it said on Monday that it received consent for a security package from its lenders, which was a requirement to complete the merger of Indus Towers with Bharti Infratel.
Comments
Comments are closed.