FTSE 100 Surges On Growth Optimism
U.K. stocks were sharply higher on Monday amid optimism about the economic outlook in 2021 as Britain began rolling out the Oxford University vaccine developed by AstraZeneca as protection against Covid-19.
Sentiment was also boosted after a survey showed growth in British manufacturing activity rose to its highest level in three years last month.
The final manufacturing PMI reading for December came in at 57.5 - the highest since November 2017 and slightly above an initial flash estimate of 57.3.
The benchmark FTSE 100 was up 192 points, or nearly 3 percent, at 6,653.
Banks underperformed, with Lloyds Banking Group falling 2.3 percent and Barclays declining half a percent.
Ladbrokes owner Entain Plc jumped 24 percent after receiving an increased offer from U.S. casino operator MGM Resorts.
Miners and energy firms were gaining ground as commodities rose on a weaker dollar.
Anglo American and Glencore both rallied about 6.5 percent, while BP Plc climbed 4.1 percent and Royal Dutch Shell added 3.4 percent.
Ferguson edged down slightly after it agreed to sell its U.K. based heating and plumbing distribution business, Wolseley UK, to Clayton, Dubilier & Rice.
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