FTSE 100 Surges Amid Early Holiday Market Moves

Britain's FTSE 100 rose 0.2% amid thin trading during a holiday-shortened week. Meanwhile, AstraZeneca's approval of a lung-cancer drug boosted pharma shares. Separate data showed the UK economy stagnated, raising doubts about PM Starmer's government. Notably, Aviva's acquisition of Direct Line led to significant market activity.

Britain's primary stock market indicator, the FTSE 100, began a shortened trading week with slight gains, climbing by 0.2% despite enduring its toughest week in over a year last Friday. The FTSE 250, contrastingly, slipped by 0.2% as trade volumes were anticipated to dwindle with market closures.

AstraZeneca's share value increased by 1.6% following the European Union's approval of its lung-cancer drug, leading the pharmaceutical and biotech sectors to a 1.2% rise. Energy sectors also saw a 0.6% increase amid stable oil prices after unexpected U.S. inflation data.

Britain's economy, however, showed no growth in the early months of PM Keir Starmer's administration, according to official figures. These findings, along with decreasing business confidence and static monetary policies, contributed to market volatility, despite significant movements like Aviva's acquisition of Direct Line.

(With inputs from agencies.)