(Sharecast News) - London stocks moved higher on Monday ahead of a week packed with central bank policy announcements, as investors mulled fresh stimulus plans from China and the latest developments in Donald Trump's trade war.
Investor sentiment was likely helped by news that the US and Russian presidents were due to talk by phone the next day to try and progress on a ceasefire in Ukraine.
The FTSE 100 was up 0.56% at 8,680.29, whilst the FTSE 250 edged up by 0.16% to 20,027.91.
Susannah Streeter, head of money and markets at Hargreaves Lansdown, said: "Markets are in choppy waters at the start of a week dominated by central bank decisions, as investors navigate risky trade currents and geopolitical uncertainty. Hopes that a new consumer life raft in China will buoy up the country's prospects of recovery have helped lift sentiment slightly, but caution remains."
On home shores, a survey from Rightmove showed the average price of a home coming to market rose in March in line with the long-term average increase for that month, as many new sellers priced sensibly amid decade-high competition to sell.
House prices ticked up 1.1% on the month following a 0.5% jump in February. On the year, price growth slowed to 1% in March from 1.4% the month before.
The average price of a property stood at 371,870, up from 367,994 in February.
Market participants were also mulling the latest comments from US President Trump, who said he would go ahead with reciprocal and additional sector-specific tariffs on 2 April with no exemptions for the steel and aluminium sectors.
Looking ahead to the rest of the week, eyes will be on rate announcements from the Bank of England, the Federal Reserve and the Bank of Japan, among others.
Streeter added that "a wait and see mood is percolating, amid the drip-drip of uncertainty surrounding prospects for the global economy".
In equity markets, Phoenix Group surged as it upgraded its cash generation and adjusted operating profit targets through 2026 following a strong performance in 2024.
Defence contractor QinetiQ tumbled after saying it would take a 140m impairment charge as tough market conditions persisted into the fourth quarter, hitting work in its UK intelligence and US sectors and resulting in further delays to a number of contract awards.
It added that it had also identified a number of one-off, largely non-cash charges and provisions primarily relating to inventory and cost recovery in legacy US operations.
Energean also fell sharply, despite saying it remains committed to the sale of its portfolio in Egypt, Italy and Croatia to an outfit controlled by Carlyle International Energy Partners.
Tesco and Marks & Spencer were under the cosh again following heavy losses on Friday after Asda said it would undertake a "substantive" programme of investment that would "materially" dent profits.
Marshalls lost ground as the landscaping, building and roofing products group trimmed its dividend after a dip in profits in 2024, but pointed to a recovery in end-markets later this year.
AstraZeneca fell as it announced the up to $1bn acquisition of Belgian biotech firm EsoBiotec, which it said has the potential to "transform" cell therapy.
Market Movers
FTSE 100 (UKX) 8,680.29 0.56%
FTSE 250 (MCX) 20,027.91 0.16%
techMARK (TASX) 4,760.80 -0.54%
FTSE 100 - Risers
Phoenix Group Holdings (PHNX) 580.00p 10.69%
JD Sports Fashion (JD.) 74.54p 2.67%
Entain (ENT) 653.80p 2.51%
M&G (MNG) 221.40p 2.45%
Fresnillo (FRES) 938.00p 2.35%
Kingfisher (KGF) 263.30p 2.33%
Antofagasta (ANTO) 1,893.50p 2.27%
Smurfit Westrock (DI) (SWR) 3,479.00p 2.17%
International Consolidated Airlines Group SA (CDI) (IAG) 289.00p 2.05%
3i Group (III) 3,803.00p 1.79%
FTSE 100 - Fallers
Tesco (TSCO) 324.20p -4.42%
Marks & Spencer Group (MKS) 320.70p -4.10%
Games Workshop Group (GAW) 14,660.00p -1.61%
BAE Systems (BA.) 1,636.50p -1.24%
Melrose Industries (MRO) 523.00p -1.21%
Sainsbury (J) (SBRY) 232.40p -1.11%
Standard Chartered (STAN) 1,163.50p -1.10%
Next (NXT) 9,584.00p -0.99%
Halma (HLMA) 2,690.00p -0.77%
AstraZeneca (AZN) 11,904.00p -0.75%
FTSE 250 - Risers
Oxford Nanopore Technologies (ONT) 108.90p 9.78%
Diversified Energy Company (DEC) 995.00p 8.51%
Hochschild Mining (HOC) 250.00p 6.84%
Trainline (TRN) 281.60p 6.10%
Wood Group (John) (WG.) 42.12p 5.56%
NCC Group (NCC) 136.60p 4.12%
B&M European Value Retail S.A. (DI) (BME) 275.20p 3.97%
Carnival (CCL) 1,430.00p 3.59%
Chrysalis Investments Limited NPV (CHRY) 95.40p 3.36%
Helios Towers (HTWS) 105.40p 3.13%
FTSE 250 - Fallers
QinetiQ Group (QQ.) 416.20p -20.65%
Energean (ENOG) 865.50p -7.97%
Bakkavor Group (BAKK) 164.00p -7.08%
Ferrexpo (FXPO) 79.00p -5.39%
Burberry Group (BRBY) 907.80p -4.26%
Chemring Group (CHG) 396.50p -3.65%
Bridgepoint Group (Reg S) (BPT) 315.40p -3.43%
Marshalls (MSLH) 237.00p -2.67%
Lion Finance Group (BGEO) 5,480.00p -2.66%
Kier Group (KIE) 120.00p -2.44%
47.96 (0.56%)
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