London Equities Rise as Precious Metals and Defence Stocks Gain Momentum
London stocks edged higher on Monday, driven by gains in precious metal miners and defence stocks. The FTSE 100 rose 0.2% after previous declines, buoyed by a strategic partnership deal and positive corporate news, despite setbacks in the personal goods sector.
London equities experienced a slight uplift on Monday, spurred by gains in precious metal miners and defence stocks. Positive corporate updates also contributed to the improved market sentiment.
The blue-chip FTSE 100 index advanced by 0.2% by mid-morning, following its largest weekly decline in nearly five months. Notably, defence stocks surged after Norway selected Britain as its partner for a significant frigate acquisition, worth approximately 10 billion pounds.
Alongside, precious metal mining stocks rose, reacting to increased gold prices. Meanwhile, banking stocks steadied after a proposed new tax announcement, and Kainos and Domino's Pizza Group reported significant gains due to optimistic financial forecasts.
(With inputs from agencies.)
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