FTSE 100 advances after Covid restrictions ease, Asian stocks trade mixed as Sensex opens around flatline

Travel stocks advance on London stock exchange as Covid restrictions are lifted

File image: The easing of lockdown continues to boost the services sector. PM Boris Johnson announced an end to Covid-19 restrictions in England (PA Wire)

Britain’s FTSE 100 rose on Monday as financial and travel stocks advanced with the much anticipated announcement of Covid-19 restrictions ending in the country.

The blue-chip FTSE 100 index rose 0.6 per cent as International Consolidated Airline group (IAG) rose almost 5 per cent. Barclays and Natwest were also among top gainers.

The mid-cap FTSE 250 also got a boost and advanced 1.2 per cent with a surge in mining and travel stocks. Super market chain Morrison stocks also rose to over 11 per cent.

The announcement by Prime Minister Boris Johnson confirmed an end to Covid-19 restrictive measures in England on 19 July, along with all requirements to wear face masks and social distancing in places like pubs, providing a major boost to local companies.

Meanwhile, other European indices also advanced with the STOXX index of 600 leading European companies ending 0.3 per cent higher, France’s CAC advancing 0.2 per cent and Germany’s DAX also ending with moderate gains.

The US stocks markets were closed on Monday in observance of Independence Day on 4 July since the holiday fell during the weekend this year, while the stock futures were flat in overnight trading. The New York Stock Exchange and the Nasdaq will resume normal trading hours on Tuesday.

On Tuesday, major indices in Asia-Pacific opened higher or closer to the flatline, as focus remains on key central bank decision in Australia and Chinese technology stocks following the investigation by Didi global holdings. The Shanghai Composite slipped around 0.5 per cent in the first half of the day.

MSCI’s broadest index of Asia-Pacific shares outside Japan is 1.5 per cent up, while Japan’s Nikkei is 0.3 per cent higher by noon local time.

Indian markets on Tuesday opened flat but were in the red as global cues remain mixed. The BSE Sensex fell by 5 points or 0.01 per cent to 52875, while Nifty50 declined by 20 points or 0.13 per cent to 15813.