Mon City brief: Equities back in positive territory
UK stocks returned to positive territory for the first time in five days as traders anticipated stimulus measures in China. The mood was also lifted by upbeat economic news on mortgage approvals and consumer confidence.
The FTSE100 closed up 36.41 pts at 6,891.43, ending a four-day losing streak as it retreated from last Monday’s record closing high of 7,037.67.
Mortgage approvals rose to a six-month high of 61,670 in February, increasing for the third month in a row.
In a thin day for corporate announcements catering outfit Compass Group rose after saying it remained confident of achieving first-half organic revenue growth of about 5.5%. Shares in the group were up 12p or 1.02% at 1,186p.