UK's FTSE 100 starts week higher on energy boost; ASOS jumps

The mid-cap FTSE 250 added 0.3%, aided by a 5.9% surge in ASOS PLC after a Turkish retailer backed by China's Alibaba Group Holding Ltd reportedly made a bid for the UK retailer. The broader retail sector housing the stock added 0.4%.

UK's FTSE 100 edged up on Monday boosted by energy firms after top oil exporter Saudi Arabia pledged to cut supplies, while ASOS notched its best day in over two weeks after an Alibaba-backed rival reportedly made a bid for the retailer.

The resource-heavy FTSE 100 added 0.4%, boosted by a 1.1% jump in energy firms as oil prices advanced following Saudi Arabia's pledge to cut production by another 1 million barrels per day from July. The mid-cap FTSE 250 added 0.3%, aided by a 5.9% surge in ASOS PLC after a Turkish retailer backed by China's Alibaba Group Holding Ltd reportedly made a bid for the UK retailer.

The broader retail sector housing the stock added 0.4%. UK listed shares of Indivior Plc surged 10.3% to over a four-month high after the U.S. drugmaker said it agreed to settle a lawsuit by U.S. states accusing it of illegally suppressing generic competition for its opioid addiction treatment Suboxone.

 

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