Spate of third-quarter corporate results are due this week as strategists say the outlook for earnings is weakening and could remain subduedthe London Stock Exchange. The UK’s export heavy FTSE 100 Index rose by 0.41 per cent on Monday, closing at 7,630.63. Meanwhile the more domestically focused FTSE Mid-Cap 250 also gained, rising 0.37 per cent to 17,519.
Biggest gains included for home builder Glenveagh Properties, which rose by 2.21 per cent to €0.971. Fellow home builder Cairn Homes was also in the green, rising by 1.77 per cent to €1.15.Paddy Power parent company Flutter Entertainment rose by 1.54 per cent to €154.85, while budget airline Ryanair gained 0.70 per cent to €15.165.
Investors will keenly watch the September data on UK’s unemployment rate on Tuesday, followed by key inflation numbers on Wednesday. The pan-European STOXX 600 Index rose by 0.23 per cent on Monday, as Polish equities jumped the most since May 2022. Bank Polska Kasa Opieki jumped by 13.28 per cent, while PKO Bank Polski saw a rise of 11.25 per cent.On the downside, uncertainty over the prospects for a multibillion euro approach filed by U.S. fund KKR for Telecom Italia’s prized landline grid sent shares in the former phone monopoly down by 6.23 per cent on Monday.