London Equities Nudge Up; Miners and Defence Stocks Shine Amid Utility Setbacks
London stock markets saw a slight increase as precious metal miners and defense stocks boosted the indices, despite setbacks from utilities. Key gains were noted in international defense partnerships and precious metal mining, while utilities and manufacturing struggled with trade tension concerns and tax worries.
London's stock exchange experienced modest gains on Monday, buoyed by precious metal miners and a new defense deal while hampered by declining utility stocks.
The FTSE 100 index nudged upwards by 0.1%, recovering slightly after experiencing its steepest weekly drop in nearly five months. A lucrative strategic defense agreement with Norway propelled defense stocks.
In contrast, utility stocks fell as market participants reacted to banking sector tax proposals, with some analysts deeming recent declines excessive. Manufacturing data revealed challenges amid global trade tensions, though select technology and consumer goods stocks performed well.
(With inputs from agencies.)
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