(Reuters) – Britain’s blue-chip FTSE 100 kicked off the week higher on Monday, boosted by heavyweight healthcare and defence stocks, on pace to snap a four-day losing streak.
The index was up 0.2% by 1052 GMT, coming off its worst weekly showing so far this year on Friday.
Aerospace and defence index gained 1.3%, with BAE Systems jumping 2.5% after NASA awarded a $230.6 million contract to the defence company over the weekend.
Heavyweight healthcare rose 1%, with drugmakers GSK and AstraZeneca leading gains.
On the flip side, industrial metal miners shed 1% as copper and iron ore prices came under pressure.
UK’s premier index had breached all-time highs earlier in February, benefiting from positive moves in index heavyweights like drugmaker AstraZeneca, but has slipped more than 1% from that peak.
Global equities have been hurt recently amid growing concerns over potential trade tariffs by U.S. President Donald Trump.
The midcap FTSE 250 index held firm at 20,601.2 points, pinned at its lowest level in more than two weeks.
Meanwhile, the pan-European STOXX 600 was up 0.1% with German shares leading as investors welcomed Germany’s election result that put centrist parties on track to form a coalition.
Later this week, a reading of the U.S. Personal Consumption Expenditure index would be awaited to gauge the Federal Reserve’s interest rate trajectory.
B&M dropped 9.3% after the discount retailer issued a profit warning blaming uncertain economic conditions, and said CEO Alex Russo would retire.
National Grid advanced 1.6% after the energy company said it has reached a deal to sell its U.S. onshore renewables business to Canadian investment firm Brookfield Asset Management for $1.74 billion including debt.
(Reporting by Ragini Mathur and Shashwat Chauhan in Bengaluru; Editing by Mrigank Dhaniwala)
