Strong Start for London Stocks as Investors Eye U.S. Government Shutdown
London stocks surged, led by financial and industrial sectors, while investors monitored a potential U.S. government shutdown. The FTSE 250 rose 0.9% and blue-chip index 0.2%. Healthcare stocks climbed, bolstered by GSK's leadership change. Housing index and metal miners also saw significant gains amid external economic concerns.
London stocks experienced an upswing on Monday, driven by significant gains in the financial and industrial sectors, as investors kept a close watch on the looming risk of a U.S. government shutdown.
The blue-chip index increased by 0.2% while the domestically-focused FTSE 250 rose by 0.9%, marking a robust start to the week. UK non-life insurers saw a 2.1% rise in their index.
Healthcare stocks advanced by 1%, fueled by GSK's 2.1% boost after announcing CEO Emma Walmsley's replacement with Luke Miels, an internal company choice. Danni Hewson of AJ Bell commented on investors' optimism regarding new leadership. Housing and metal miners indices also performed well, spurred by gold prices and fiscal discussions involving President Trump and Congress.
(With inputs from agencies.)
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