London stocks opened in the green on Monday despite political turbulence overseas and softer-than-expected US labour data.
The FTSE 100 edged up 0.1% to 9,215.42, the FTSE 250 rose 0.3% to 21,644.44, and the AIM All-Share climbed 0.6% to 770.52.
Markets absorbed weak US payrolls figures on Friday. Nonfarm employment rose just 22,000 in August, down from 79,000 in July, with earlier months revised. Wall Street closed lower, with the Dow slipping 0.5%, the S&P 500 down 0.3% and the Nasdaq marginally weaker.
Political uncertainty is also in focus. Japan’s prime minister confirmed plans to step down, while in France, Emmanuel Macron faces fresh pressure over his budget plans. In the UK, attention remains on Westminster after Keir Starmer completed a cabinet reshuffle last week following Angela Rayner’s resignation.
In London, Phoenix Group fell 4.6% after announcing plans to rebrand as Standard Life next year. The retirement savings firm posted a swing to pretax profit of £8 million for the first half, but total cash generation fell short of expectations.
Marks & Spencer rose 1.9% after Citi upgraded the retailer to ‘buy’. Treatt surged 17% after agreeing to a £156.6 million takeover by Natara, which will pay 260p a share, a 16% premium to Friday’s close.