BRUSSELS (dpa-AFX) - The U.K. stock market's benchmark index FTSE 100 moved modestly higher on Monday, lifted by gains in mining and energy sectors. Data showing softer growth in UK manufacturing and services sector in the month of September appeared to be limiting market's upside.
The FTSE 100, which climbed to 10,523.00, was up 31.05 points or 0.3% at 10,493.00 about a quarter past noon.
Ithaca Energy moved up 3.5% after the company announced that it has agreed to acquire offshore oil assets located in shallow waters off the East Coast of Newfoundland and Labrador in Canada from Suncor Energy Inc. The transaction is targeted to be completed in the first half of 2027.
The deal has an upfront cash consideration of $860 million. The company could pay up to an additional $250 million in contingent consideration linked to Brent crude oil prices.
Metlen Energy & Metals climbed 1.8%. Telecom provider BT Group gained 1.7% after it acquired broadband operator TalkTalk out of administration.
LSEG gained about 1.5%. Haleon, Babcock International, Fresnillo, Relx, Coca-Cola HBC, Standard Life, Airtel Africa, The Sage Group, Land Securities, Shell, British American Tobacco, Vodafone Group, Anglo American Plc, Rio Tinto, Imperial Brands and Pearson gained 0.7%-1.2%.
3i Group dropped about 4.4%. Halma, Barratt Redrow and Balfour drifted down 2%-2.2%.
IG Group Holdings, IAG, Whitbread, Kingfisher, Weir, Pershing Square Holdings, Investec, Antofagasta and Natwest Group posted moderate losses.
Data from S&P Global showed the S&P Global UK Composite PMI came at 52.0 in September, revised slightly higher from the preliminary estimate of 51.7 but down from 52.5 in August, marking a three-month low.
The slowdown was due to softer growth in both services sector and manufacturing sector activity. The Services PMI for September came in a 52.1, down from 52.5 in August, while manufacturing PMI score for September was 51.9, up slightly from August's 51.7.
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