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UPDATE 2-London mid-cap stocks outperform as engineer IMI soars

Published Apr 26, 2021 16:44 Updated Apr 27, 2021 00:50
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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.)
* Pearson rises as demand for online learning boosts Q1
trading
* FTSE 100 up 0.35%, FTSE 250 adds 0.92%

(Updates to market close)
By Devik Jain and Medha Singh
April 26 (Reuters) - London's FTSE-100 rose on Monday as
mining and financial shares benefitted from growing hopes of an
economic recovery, while a surge in shares of engineer IMI
helped the mid-cap index outperform its blue-chip counterpart.
The FTSE-100 .FTSE added 0.4%, helped by gains in mining
stocks .FTNMX551020 as copper prices hit their highest in over
10 years and prices of other metals also rose. MET/L
Glencore GLEN.L shares jumped more than 3% as an
Australian state planning commission approved an extension to
the company's Mangoola coal mine in the Upper Hunter Valley of
New South Wales. Economy-linked financial stocks .FTNMX301010 added about
1.5%, while travel and leisure shares .FTNMX405010 climbed
more than 1% after a top European Union official said on Sunday
that vaccinated Americans should be able to travel to Europe by
summer. "Travel stocks soared higher during the London session today
as hopes lifted that a big rescue could now be on the cards for
the summer season, with the introduction of vaccine passports,"
said Susannah Streeter, senior investment and markets analyst at
Hargreaves Lansdown.
The domestically focussed mid-cap FTSE 250 index .FTMC
added 0.92%, nearing a record high. Engineering firm IMI IMI.L
jumped 11% to a seven year high after it raised its annual
profit outlook. World stocks also ticked higher, with U.S. stocks advancing
ahead of earnings from U.S. tech heavyweights this week. Focus
is also on results from big UK banks in the coming days.
MKTS/GLOB
The FTSE-100 has gained 7.8% year-to-date as encouraging
economic data on the back of speedy COVID-19 vaccinations and
constant policy support from the government lifted optimism
about a stronger economic recovery.
Goldman Sachs expects the UK economy to grow by a "striking"
7.8% this year, more than the United States, following a nearly
10% slump last year as Britain was hit by longer coronavirus
lockdowns than many of its peers. Rolls Royce RR.L jumped 6% to the top of the FTSE-100
index after it said on Friday it was in constructive talks with
Spain over the sale of its Spanish unit ITP Aero. Global education group Pearson PSON.L rose 2.7% after
posting a 5% increase in underlying revenue growth in the first
quarter, helped by strong demand for online learning courses.

UPDATE 2-London mid-cap stocks outperform as engineer IMI soars
 

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