Monday Morning Markets: FTSE 100 Climbs as RELX and Defence Names Lead, Next and EasyJet in Focus

London shares are trading higher early on Monday, with the FTSE 100 up 0.5% and the FTSE 250 gaining 0.4%. 

On the continent, Germany’s DAX has risen 0.2%, the CAC 40 has added 0.5% and the Stoxx 50 is up 0.1%. 

Oil edged lower in early trade, while gold has reversed earlier overnight gains as the dollar firms.

WELCOME BONUS - Free Share Bundle When You Invest £50! Get up to £500 cashback for investing with IG.

Invest in 15,000+ shares and ETFs. Open an account now, invest at least £50, and you’ll get a free share bundle worth between £40 and £200. T&Cs apply.

5.0

Open Account Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 68% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money.

In corporate news, a few of big names are in focus…

According to a report from Sky News, Next is preparing a takeover bid for luxury department store chain Harvey Nichols.

Meanwhile, EasyJet said it has reached an “agreement in principle” with US private credit firm Castlelake over a takeover deal worth approximately £6.90 per share.

ITV is trading higher after it announced the sale of its Media and Entertainment (M&E) business to Sky.

Topping the FTSE 100 risers board, RELX has jumped 3.26%, although the stock is still down over 20% year-to-date. 

Housebuilder Barratt Redrow has gained 2.84%, while BAE Systems has added 2.55% and Babcock International is trading 2.5% higher, as the recent gains for defense stocks continue amid ongoing geopolitical tensions and government spending announcements.

On the downside, Halma has slipped 1.40%, while miner Fresnillo has fallen 0.99%, giving back some of the gains made in the second half of last week as gold prices cooled from overnight highs. 

Airtel Africa has dropped 0.93%.