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* Pearson rises as demand for online learning boosts Q1
* FTSE 100 up 0.35%, FTSE 250 adds 0.92%
(Updates to market close)
By Devik Jain and Medha Singh
April 26 (Reuters) - London's FTSE-100 rose on Monday as
mining and financial shares benefitted from growing hopes of an
economic recovery, while a surge in shares of engineer IMI
helped the mid-cap index outperform its blue-chip counterpart.
The FTSE-100 added 0.4%, helped by gains in mining
stocks as copper prices hit their highest in over
10 years and prices of other metals also rose.
Glencore shares jumped more than 3% as an
Australian state planning commission approved an extension to
the company's Mangoola coal mine in the Upper Hunter Valley of
New South Wales.
Economy-linked financial stocks added about
1.5%, while travel and leisure shares climbed
more than 1% after a top European Union official said on Sunday
that vaccinated Americans should be able to travel to Europe by
"Travel stocks soared higher during the London session today
as hopes lifted that a big rescue could now be on the cards for
the summer season, with the introduction of vaccine passports,"
said Susannah Streeter, senior investment and markets analyst at
The domestically focussed mid-cap FTSE 250 index
added 0.92%, nearing a record high. Engineering firm IMI
jumped 11% to a seven year high after it raised its annual
World stocks also ticked higher, with U.S. stocks advancing
ahead of earnings from U.S. tech heavyweights this week. Focus
is also on results from big UK banks in the coming days.
The FTSE-100 has gained 7.8% year-to-date as encouraging
economic data on the back of speedy COVID-19 vaccinations and
constant policy support from the government lifted optimism
about a stronger economic recovery.
Goldman Sachs expects the UK economy to grow by a "striking"
7.8% this year, more than the United States, following a nearly
10% slump last year as Britain was hit by longer coronavirus
lockdowns than many of its peers.
Rolls Royce jumped 6% to the top of the FTSE-100
index after it said on Friday it was in constructive talks with
Spain over the sale of its Spanish unit ITP Aero.
Global education group Pearson rose 2.7% after
posting a 5% increase in underlying revenue growth in the first
quarter, helped by strong demand for online learning courses.
(Reporting by Devik Jain and Medha Singh in Bengaluru; Editing
by Uttaresh.V and Mark Potter)