London stocks closed higher on Monday (May 16), helped by gains in health care and resources stocks. Even the trading climate was affected by China’s weak economic data release.
The FTSE 100 London Stock Exchange closed at 7,464.80, up 46.65, or +0.63%.
Pharmaceutical stocks such as AstraZeneca and Glaxosmith Klein including oil groups such as Shell or BP support the market to rise
Major mining stocks such as Glencore and Antofagasta rose in tandem with industrial metal prices. Response to China, the world’s largest metal user. Plans to reduce restrictions on coronavirus control
Vodafone were up 1.9 percent after e&, a United Arab Emirates (UAE) telecom company, bought 9.8 percent of Vodafone for $4.4 billion.
However, the trading climate in the market was affected by China’s release of data indicating that Retail sales and industrial production fell sharply in April. This is a result of China’s order to lockdown cities to curb the spread of COVID-19.
Retail stocks such as Unilever and Reckitt Benckiser were lower.