The UK’s blue-chip index increased in early trade on Thursday, helped by stocks related to commodities, but most European markets were range-bound as concerns about a potential U.S. recession created an overhang before the Easter holiday.
By 07:07 GMT, the FTSE 100 (.FTSE) was up 0.4%, the midcap FTSE 250 index (.FTMC) was down 0.1%, and the continental STOXX 600 (.STOXX) was up 0.3%.
The energy behemoth Shell (SHEL.L) saw a 1.7% increase as it predicted increased first-quarter production of liquid natural gas (LNG).
The hiring firm Robert Walters Plc (RWA.L) saw a 4.1% decline after highlighting ongoing market difficulties and claiming layoffs were having an impact on hiring in the technology sector.
Homebuilder stocks (.FTNMX402020) decreased 0.3% in the meantime, despite Halifax, a mortgage lender, reporting that British house prices increased in March for the third consecutive month, up 0.8% from February compared to analysts’ expectations of a 0.3% decline.
The gauge was expected to have its worst weekly performance in more than six months.
From Friday through Monday, UK markets will be suspended. They will reopen on Tuesday.