LONDON: London stocks tracked gains in Asian markets on Monday as investors hoped for a Covid-19 vaccine before the end of the year, although concerns over tougher business restrictions in the UK kept demand for risky assets in check.
The blue-chip FTSE 100 rose 0.2%, led by autos, insurance, and real estate stocks. A 0.6% gain for AstraZeneca Plc propped up the pharmaceuticals index as the European medicines watchdog recommended approving its treatments for a form of heart failure and a lung disorder.
The mid-cap FTSE 250 added 0.3%, with shares in flexible office space provider IWG Plc jumping 7.6% after Berenberg upgraded the stock to "buy".
"Risk assets are precariously perched with no shortage of uncertainty clouding the background," said Stephen Innes, market strategist at Axi.
The FTSE 100 and the mid-cap index recorded their first weekly declines in three weeks on Friday as new coronavirus-induced lockdowns in London as well as uncertainty about a post-Brexit trade deal sapped demand for equities. Amigo Holdings Plc tumbled 6.5% after saying it had entered an Asset Voluntary Requirement (AVR) with Britain's financial watchdog, meaning the subprime lender will need approval to transfer assets outside of the group.
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