(For a Reuters live blog on U.S., UK and European stock
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* Shell climbs on plans for single-share structure
* CMC soars on plans to split into two
* Cineworld jumps on box office revenue recovery
* FTSE 100 up 0.1%, FTSE 250 adds 0.3%
(Updates to close)
By Bansari Mayur Kamdar and Devik Jain
Nov 15 (Reuters) - UK's midcap index edged higher on Monday
led by gains in CMC Markets and Cineworld, while a rise in
shares of Royal Dutch Shell helped offset declines in mining
stocks, lifting the commodity-heavy FTSE 100.
The domestically-focussed FTSE 250 index ended 0.3%
higher. CMC Markets rose 6.4% after the online trading
group announced a possible separation of its leveraged and
non-leveraged divisions.
Cineworld jumped 6.6% to the top of index after the
world's second-largest theatre operator said revenue has grown
steadily since reopening and touched 90% of pre-pandemic levels
last month.
The blue-chip FTSE 100 index inched 0.1% up, with
Shell adding 2.1% after the energy giant said it would
scrap its dual share structure and move its head office to
Britain from the Netherlands.
Gains were limited, however, as miners
slipped 1.5%, pressured by global moves to reduce coal use and a
big drop in China's steel production.
Inflationary pressures and supply chain problems have
weighed on UK's economic recovery, with the FTSE 100 gaining
13.7% this year but still underperforming its peers in Europe
and the United States.
All eyes are now on jobs data on Tuesday followed by
October CPI and retail sales figures later in the week for clues
on the Bank of England's (BoE) policy decision in December.
"How has the end of furlough filtered through to the UK's
jobs market? That's one of two big questions UK markets are
waiting to hear answers to this week. The second is exactly what
does inflation number look like and how uncomfortable will it
make members of the BoE's MPC," Danni Hewson, financial analyst
at AJ Bell, said.
BoE Governor Andrew Bailey said he was very uneasy about the
inflation outlook and that his vote to keep interest rates on
hold earlier this month had been a very close call.
Among other stocks, drugmaker AstraZeneca gained
1.9% to provide the biggest boost to the FTSE 100 index,
followed by banking shares.
(Reporting by Bansari Mayur Kamdar and Devik Jain in Bengaluru;
Editing by Rashmi Aich and Shailesh Kuber; Editing by Andrew
Heavens)
