London stocks rose slightly on Monday, with the FTSE 100 up 0.7% and the FTSE 250 up 0.3% after two weeks of declines. Gains were driven by personal goods, energy shares, and precious metal miners. Burberry rose 1.6%, leading a 1.5% increase in the personal goods sector. Energy stocks climbed 1% as oil prices rose for the fifth consecutive session amid easing U.S. recession fears.
However, the construction and materials sector fell 0.4%, weighed down by a 3.5% drop in Marshalls following a 19% profit slump. Investors are now focusing on U.S. consumer price index data due on Wednesday, which will impact the Federal Reserve’s stance on interest rates.
BT Group surged 6.3% after India’s Bharti Enterprises announced plans to acquire a 24.5% stake in the telecom giant for about £3.2 billion ($4 billion), making it the top performer on the FTSE 100.