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London stocks gain on M&A activity, virus risks weigh

Published 01/25/2021, 04:20 PM
Updated 01/25/2021, 04:30 PM
© Reuters.
UK100
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ASOS
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STEMS
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FTMC
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FTNMX551030
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BOOH
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(For a Reuters live blog on U.S., UK and European stock
markets, click LIVE/ or type LIVE/ in a news window)
* FTSE 100 up 0.1%, FTSE 250 adds 0.2%

Jan 25 (Reuters) - British stocks opened higher on Monday
after posting losses in the past two sessions, as merger deals
offered support to the indexes, although gains were capped by
worries about the economic impact from surging virus cases and
lockdowns.
Online fashion retailers Boohoo BOOH.L and ASOS ASOS.L
jumped 4% and 2%, each. Boohoo bought the Debenhams brand, while
ASOS was in talks to buy the key brands of Philip Green's
collapsed Arcadia group. The blue-chip FTSE 100 index .FTSE was up 0.1%, with
mining .FTNMX1770 and pharmaceutical .FTNMX570 sectors
gaining the most, while the mid-cap index .FTMC rose 0.2%.
Britain has detected 77 cases of the South African variant
of COVID-19, the health minister said on Sunday, also urging
people to strictly follow lockdown rules as the best precaution
against the country's own potentially more deadly
variant. Recruiter SThree Plc STEMS.L gained 0.8% after its profit,
which nearly halved, still managed to beat market expectations
and the company said it had resumed dividends.

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