Morrisons Lifts London MidCaps as Virus Fears Weigh


FTSE 100 flat, FTSE 250 adds 0.2

July 5 Reuters British midcaps rose on Monday, led by gains in heavyweight mining stocks and supermarket chain Morrisons, while investors looked past rising local coronavirus infections as the UK prepared to ease its lockdown.

Morrisons jumped 11 to the top of the midcap index after U.S. privateequity firm Apollo Global Management said it was considering a possible offer for the British company, which on Saturday agreed to a 6.3billion pound takeover from another group.

The domesticallyfocussed FTSE 250 index rose 0.2, with base metal miners gaining nearly 1.3.

British Prime Minister Boris Johnson will set out plans for the final step of easing lockdown in England on Monday. The remaining legal restrictions are due to be lifted on July 19, with the decision whether to go ahead scheduled for July 12.

The bluechip FTSE 100 index was flat.

Hipgnosis Songs Fund, the owner of the rights to artists including Neil Young and Shakira, gained 0.7 after it reported a jump in annual earnings and raised its dividend.

Reporting by Shashank Nayar in Bengaluru; editing by Uttaresh.V

Source Reuters

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