Brexit talks begin Brussels; Bank of England has new policy maker
U.K. stocks bounced higher Monday, with investors taking on risk by scooping up commodity shares, while retail shares were recovering after a selloff in the previous session.
The FTSE 100 rose 0.9% to 7,533.30, with its best session since June 9 led by basic materials and industrial shares. Miners Glencore PLC (GLEN.LN) and Anglo American PLC (AAL.LN) were up 3% and 2.4%, respectively. Oil producer BP PLC (BP.LN) (BP.LN) tacked on 1.2%.
The FTSE 100 on Friday broke a four-day losing streak (http://www.marketwatch.com/story/ftse-100-advances-with-tesco-up-after-sales-report-2017-06-16), but still finished the week with a 0.9% decline.
Financial markets early Monday were steady after initial reports of a “major incident” in London involving a van being driven into a crowd of people (http://www.marketwatch.com/story/one-dead-several-injured-after-car-rams-crowd-in-finsbury-park-london-2017-06-19) near a North London mosque. One person is dead and several have been injured. Metropolitan Police are now investigating the incident as a potential terror attack and a 48-year-old man has been arrested. U.K. Prime Minister Theresa May on Monday condemned all forms of extremism and said extra police will be deployed to protect mosques.
Brexit talks: The new trading week kicks off with the start of talks over Britain’s exit from the European Union, or Brexit, nearly a year after the U.K. voted to leave the EU in a referendum. U.K.’s Brexit Secretary David Davis and his team were meeting with the…