The UK’s FTSE 100 opened higher on Monday, helped by advances in lenders and precious metal miners, while John Wood Group, a mid-cap oilfield services and engineering group, had its worst day ever after Apollo Global backed out of a possible purchase.
The blue-chip FTSE 100 (.FTSE) gained 0.5%, extending gains from the previous session, when data showed that the domestic economy expanded marginally in the first quarter of the year.
Banks (.FTNMX301010) contributed the most to the top index, gaining 1.0%, while precious metals miners (.FTNMX551030) gained 1.3% as bullion prices rose.
The domestic-focused mid-cap index increased 0.2% by 0716 GMT, although John Wood Group (WG.L) fell 35.8% after the U.S. private equity fund said it will not make a takeover approach for the oilfield services provider.
Currys PLC (CURY.L) rose 5.5%, its highest day in more than a month, after the electricals retailer boosted its profit forecast for 2022-23, citing better-than-expected performance in its home market in the last two months of the year.
The retail sector (.FTNMX404010) housing the stock added 1.0%.