LONDON: London's FTSE 100 index ended higher on Monday as Ocado led gains after raising its full year earnings outlook, while mid-caps fell, as England faced the prospect of entering a nearly one-month lockdown later in the week.
The online supermarket and technology group jumped 8% in its best session in nearly two months. It said it would buy two robotics companies for a total of $287 million.
The food and drugs retailer sub-index gained 3.7%, while the blue-chip FTSE 100 had its best day in two weeks, rising 1.4%.
The domestically-focussed FTSE 250 shed 0.2% as England was set to impose new business restrictions after midnight on Thursday until Dec. 2.
The FTSE 100 in October posted its biggest monthly decline since the pandemic-driven crash in March as fears mounted of a faltering economic recovery. A Reuters poll of economists suggested the economy was on course to contract 10% this year, its worst performance since the early 1700s.
Pub and restaurant operators J D Wetherspoon Plc, Mitchells & Butlers Plc and Marton's fell by between 0.8% and 7.6%.
James Smith, developed market economist at ING expects the lockdown to shave roughly 6% to 7% off Britain's monthly GDP for November, but says "the economy probably won't be hit as hard as in April... the most obvious explanation for this is that this lockdown is not as restrictive."-Reuters
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