Even as the economy recovers and concerns about inflation continue, London shares are growing

0
1
Even as the economy recovers and concerns about inflation continue, London shares are growing

Banks gained 1.8%, recouping most of their previous session’s losses. In company news, Sage Group rose 3% as the software company met market estimates and said its margin was expected to trend higher in the second half and beyond.

Story Highlights

  • The domestically focussed mid-cap index advanced 0.8% but was still set for its sixth straight weekly decline. Oil majors BP and Shell climbed 1.8% and 1%, respectively, tracking a recovery in oil prices as worries over China’s COVID lockdowns slowing global growth offset concerns about dwindling fuel supplies from Russia, the world’s second-largest oil exporter.