UK Stocks Continue to Rise for Third Session.
London, Monday, 22 May 2023
On Monday, the FTSE 100 increased 0.2% to 7,771, extending advances for a third session. Financial companies, particularly a surge in British banks like Standard Chartered (+1%), were a major factor in the increase.
In addition, NatWest Group's stock increased 1.2% as progress towards lowering government ownership and moving towards private ownership was indicated by the bank's commitment to buy back shares from the government.
Following Ryanair Holdings' profitable quarter, the travel and leisure industry also helped to bolster the entire market.
Dechra Pharmaceuticals, on the other hand, fell 13% as the business cut its forecast for its 2017 underlying operating profit. Meanwhile, worries about the US debt ceiling standoff kept the market on edge.
(Written by: The Decision Maker - Finance editors)
(London Stock Exchange)