UK shares end higher as trading resumes after bank holiday
Banks soar (Il Sole 24 Ore Radiocor) - London, 07 May - UK shares closed higher, hitting a new all-time high, boosted by upbeat global markets as trading resumed after Monday's bank holiday. Sentiment remained underpinned by renewed bets that the Federal Reserve would slash rates rates sooner than thought this year, following a softer than expected US nonfarm payrolls report on Friday. Banks were among today's top risers with Lloyds, Barclays and NatWest adding at least 2.3% as markets look ahead to the Bank of England's policy decision on Thursday.
Traders also continued to digest corporate earnings including results from BP.
Shares fell 1.31% at 503.70 pence after the oil major reported a profit decline for the quarter.
Shell however gained 1.28% at 2,895.00 pence amid reports that it was selling its Malaysian gas station unit to Saudi Aramco.
On the data front, UK house prices rose 0.1% month on month in April, after falling 0.9% in March, according to the bank Halifax.
Year on year, property prices grew 1.1% annually against a 0.4% rise the previous month.
Persimmon gained 3.48% at 1,414.00 pence.
The London FTSE 100 closed up 1.22% at 8,313.67 points.
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(RADIOCOR) 07-05-24 18:26:56 (0745) 5 NNNN