Travel stocks, Morrisons push FTSE 250 to record highs

A man takes cover under an umbrella as he walks past the London Stock Exchange in London, Britain August 24, 2015. REUTERS / Suzanne Plunkett / File Photo

  • Morrisons leads mid caps
  • PM Johnson to set plans to ease lockdown
  • Britain’s Spire falls after Ramsay Health softens its offer
  • FTSE 100 adds 0.6%, FTSE 250 adds 1.2%

July 5 (Reuters) – UK mid caps surged on Monday, driven by gains in heavy mining stocks, the Morrisons supermarket chain and a rise in travel stocks ahead of England’s plans to ease its lockdown measures.

Morrisons (MRW.L) jumped 11.3% and was the main driver of the Mid-Cap Index (.FTMC) as the battle over the $ 8.7 billion bids for the supermarket chain s’ escalated Monday when a third group of private equity entered the fray. Read more

The domestically-focused FTSE 250 index rose 1.2%, with base metal miners (.FTNMX551020) gaining nearly 1.5%. Travel titles (.FTNMX405010) jumped 2.3% in anticipation of reopening.

“Supermarkets have done well since the lockdown began last year and with the restrictions about to be lifted, these stocks are well prepared to win … with the added bonus that many of them are on target. foreign flows, “said Michael Baker, analyst at ETX Capital.

British Prime Minister Boris Johnson was due to present plans on Monday to end COVID-19 restrictions, to determine whether a rapid vaccine deployment provides sufficient protection against the highly contagious Delta variant. Read more

The blue-chip FTSE 100 (.FTSE) rose 0.6%, driven by gains in financials (.FTNMX301010).

“Looking at the London markets today, investors seem fairly confident that the vaccine rollout has changed things from that time a year ago,” said Danni Hewson, financial analyst at AJ Bell.

The FTSE 100 has gained nearly 11.0% so far this year on government stimulus and record interest rates, but has significantly underperformed its mid-cap European and domestic peers and continues to decline. ‘to be one of the least valued markets.

The post-foreclosure rebound for UK service companies eased only slightly in June, but price pressures increased the most on record, adding to signs of further inflation to come, according to investigation. Read more

Among stocks, Spire Healthcare (SPI.L) fell 2.8% even after Australia’s Ramsay Health Care softened its takeover offer to around 1.04 billion pounds ($ 1.44 billion).

Reporting by Shashank Nayar in Bangalore; Editing by Uttaresh.V, Shounak Dasgupta and Barbara Lewis

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