1 Minute Read by Reuters Staff FILE PHOTO: Signage is seen outside the London Stock Exchange’s entrance in London, United Kingdom. The date is August 23, 2018. (Reuters) – REUTERS/Peter Nicholls/File Photo The FTSE 100 in London rose on Friday, bolstered by confidence about the economy’s resumption, but the index was projected to lose ground on the week due to losses in oil and transport firms. The blue-chip FTSE 100 index increased by 0.4 percent, led by retailers Unilever and Diageo. The index was expected to close 1.1 percent lower this week, driven by a 4.4 percent decrease in energy companies and a 6.6 percent drop in travel stocks. Low-cost airlines Wizz Air and EasyJet, as well as tourism giant TUI, boosted the domestically focused mid-cap index by 0.4 percent on Monday, as Britain was ready to eliminate all lockdown restrictions. According to a Reuters poll, Britain’s economy will rise swiftly this quarter as more coronavirus-related limitations are relaxed and more pent-up demand is released, although growth is threatened by new COVID-19 variations. Burberry’s stock fell 0.9 percent after the company said it had had a “great start” to the new year, with full-price sales increasing and leather products and outerwear seeing robust increase. Shashank Nayar contributed reporting from Bengaluru, and Uttaresh.V. edited the piece./n
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