London stocks inch higher on signs of global economic rebound

  • Reuters
  • Stock Market News
London stocks inch higher on signs of global economic rebound
Credit: © Reuters.

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* FTSE 100 up 0.1%, FTSE 250 adds 0.7%

July 3 (Reuters) - UK shares edged higher on Friday and were set for weekly gains as a pickup in China's services sector activity in June bolstered hopes of a global economic rebound from a coronavirus-led downturn.

The export-heavy FTSE 100 .FTSE was up 0.1%, as data showed China's services sector expanded at its fastest pace in over a decade last month. Final figures on the UK's services sector for June are due later in the day. mid-cap FTSE 250 .FTMC added 0.7%, with financial .FTUB8600 , real estate .FTUB8600 and construction .FTNMX2350 stocks among the early advancers.

Travel-related firms .FTNMX5750 gained for a third straight day as Britain's government said it would lift quarantine rules for people arriving in England from countries including Germany, France, Spain and Italy from July 10. Securities LAND.L rose 1.5% to the top of the FTSE 100 as it said like-for-like sales at its shopping centres was at 80% of the level achieved last year in the two weeks since non-essential retail reopened in England.

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