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London stocks begin 2021 with gains; Ladbrokes owner soars

Published 01/04/2021, 04:22 PM
Updated 01/04/2021, 04:30 PM
© Reuters.

(For a Reuters live blog on U.S., UK and European stock
markets, click LIVE/ or type LIVE/ in a news window)
* FTSE 100 up 1.7%, FTSE 250 adds 1.3%

Jan 4 (Reuters) - British shares jumped on Monday in the
first trading session of the new year as optimism around vaccine
rollouts and a jump in oil prices helped boost the export-heavy
index after it breached multi-year lows in the previous year.
Ladbrokes owner Entain ENT.L surged 26.2% to be the top
gainer on the FTSE 100 after saying it received proposals from
U.S. casino operator MGM Resorts MGM.N for a possible offer.
The blue-chip FTSE 100 .FTSE rose 1.7% on its first day of
trading with Britain outside the European Union's orbit. The
mid-cap index .FTMC jumped 1.3%.
However, limiting gains was Prime Minister Boris Johnson's
announcement on Sunday that tougher lockdown restrictions were
probably on the way as COVID-19 cases keep rising. Plumbing parts distributor Ferguson Plc FERG.L gained 0.2%
after it agreed to sell its UK-focused business to private
investment firm Clayton, Dubilier & Rice for about 308 million
pounds ($421.56 million).
Drugmaker AstraZeneca AZN.L jumped 1.3% after Britain was
set to roll out its low-cost and easily transportable COVID-19
vaccine, the second vaccine candidate to be distributed.

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