London Markets: FTSE 100 ends higher, helped by pound’s drop on key U.K. official’s exit

Blue-chip stocks in the U.K. gained ground Monday, even as the pound rose, as traders assessed the sudden resignation of Brexit minister David Davis and what that might mean for the future of Prime Minister Theresa May’s government.

At the same time, worries over rising trade tensions between the U.S. and China appeared to have been moved to the back burner.

How markets are moving

The FTSE 100 index UKX, +0.27% was up 0.5% to 7,582.00, led by the basic materials group. Only the utilities and telecom sectors were in the red. The London benchmark on Friday rose 0.2% and finished last week lower by 0.8%.

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