UK shares edged higher in early dealings before a busy week of economic data including US inflation data, a European Central Bank interest rate decision and UK growth figures.
FTSE 100 was up 7 points, or 0.1 per cent, at 7,919 in thin trading.
Gold miners benefitted from a rise in the precious metal to a record high. Fresnillo gained 9p, or 1.7 per cent, to 551p and in the FTSE 250 — up 64 points, or 0.3 per cent, to 19,790 — Hochschild Mining picked up 4¼p, or 3.3 per cent, to 141p.
Higher copper and aluminium prices supported Glencore, the miner and commodities trader, up 7p, or 1.5 per cent, to 465p. Rio Tinto gained 125½p, or 2.5 per cent, to £51 and Anglo American advanced 36½p, or 1.8 per cent, to £21.24½.
The recent rally in oil prices came to a halt, giving some relief to travel stocks such as easyJet, which rose 16p, or 2.9 per cent, to 575¼p, and Tui, up 22½p, or 3.5 per cent, to 675p. Wizz Air, which was also given a boost by an upgrade from analysts at BNP Paribas, jumped 76p, or 3.4 per cent, to £22.84.
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Another big riser this morning was Entain amid speculation that Apollo, the private equity giant, is circling the Ladbrokes owner after a report in The Sunday Times that the imminent departure of Barry Gibson, the chairman who blocked two previous takeover attempts, could leave the company vulnerable to a bid. The shares gained 41p, or 5.2 per cent, to 825p, taking the stock to the top of the blue-chip leaderboard.
Extending Friday’s losses were retailers, as data revealed retail sales fell last month, piling further selling pressure on Marks and Spencer and Ocado, which slipped 5½p, or 2 per cent, to 256p and 8p, or 2.1 per cent, to 371¾p, respectively.
