LONDON — British stocks had a strong start to the week on Monday, with the FTSE 100 closing higher as traders awaited the first reports of official Brexit talks between the UK and EU.
The index closed 0.81% higher to trade at 7,523 points. Here is the chart:
Brexit secretary David Davis headed to Brussels to begin official negotiations with EU officials on Monday, and the index's performance is likely to be significantly influenced in coming weeks by the tone and sentiment emerging from the talks.
Mike van Dulken and Henry Croft, analysts at Accendo Markets, said in a morning note: "A positive opening call comes as traders welcome another Macron victory in France, this time in Parliamentary elections, which give hope to him passing reforms that can help both the French economy and thus Europe.
"There is also optimism about a positive start to UK-EU Brexit negotiations which kick off today in Brussels. The GBP may be off its lows, but not proving a FTSE hindrance yet."
Big gainers on the index were mining firms Anglo American, up 2.05%, Antofagasta, up 1.73%, and Glencore, up 1.72%.
- The FTSE 100 dropped after a terrible set of retail data on Thursday
- London’s grip on its near-€900 billion clearing business is slipping
- The FTSE 100 dropped as investors continue to digest the UK's shock election result
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