FTSE Close: Stocks close higher ahead of key data

UK shares close up ahead of inflation and jobs data that could influence central bank rate decisions.

Mark Rogers

Mark Rogers

London shares edged up on Monday, led by gains in miners and retailers, as investors looked ahead to important UK and US economic data this week.

The FTSE 100 closed 1.11 points higher at 7,573.69, while the domestically-focused FTSE 250 rose 141.61 points, or 0.7%, to 19,203.93.

Glencore was among the top performers, jumping 2.4% after the mining and trading giant said it would halt operations at its loss-making Koniambo nickel mine in New Caledonia. Frasers Group climbed 5% as the Sports Direct owner unveiled plans to buy back up to £80 million in shares.

In deal news, commercial property giants Tritax Big Box and UK Commercial Property REIT agreed to an all-share merger that will create the UK’s fourth-largest real estate investment trust with a market value nearing £4 billion. Tritax shares fell 3.9%, while UKCM advanced 4.8%.

Gold explorer ECR Minerals powered 13% higher after reporting “significantly” higher grades from drilling at its Creswick project in Australia.

The gains come ahead of the release of UK unemployment, inflation and GDP data this week, which could influence the Bank of England’s next interest rate decision. Across the Atlantic, US consumer price inflation is also due.

FTSE All-Share Gainers

Synthomer 9.47%, Jupiter Fund Management 8.31%, Saga 7.57%, Galliford Try 6.51%, Metro Bank 6.15%, Ceres Power 6.15%, ASOS 5.75%, TUI AG 5.65%, Avon Protection 5.36%, Burberry 5.07%.

FTSE All-Share Fallers

Superdry -12.33%, James Fisher and Sons -6.3%, Gore Street En. -5.4%, Topps Tiles -4.47%, Abrdn Property -4.19%, Tritax Big Box -4%, Ultimate Prod -3.29%, Ashmore -3.22%, Vipera -3.09%, Fuller Smith & Turner -3.03%.

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