FTSE 100 inches higher on oil stocks, AstraZeneca boost; Playtech…

FTSE 100 inches higher on oil stocks, AstraZeneca boost; Playtech…

Nov 8 (Reuters) – London’s FTSE 100 inched higher on Monday, led by energy and Sandakan STC mining stocks, Singapore Pools while online gambling firm Playtech jumped after receiving a takeover bid from its second-biggest shareholder.

Lottery Lotto Sphere - Free vector graphic on Pixabay

The blue-chip FTSE 100 index rose 0.1% by 0820 GMT, with oil stocks and precious metals miners leading the gains.

AstraZeneca was the biggest boost to the index on receiving a U.S.food and drug administration (FDA) “fast track” designation for its gastritis drug.

Banking shares dropped 0.6% and limited further gains in the FTSE 100, with benchmark 10-year bond yields hovering near their one-month lows on a dovish central bank policy last week.

The domestically focussed mid-cap index was flat.

Playtech Plc rose 2.4% after it received a takeover offer from its second-biggest shareholder, Gopher Investments, on Sunday.

British defence company BAE Systems slipped 0.4% even after it stuck to its guidance for earnings to grow by 3% to 5% this year over 2020’s result and said demand for its products and services remained high.(Reporting by Shashank Nayar in Bengaluru; Editing by Subhranshu Sahu)

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