UK shares are trading higher ahead of Greek aid decision

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Source: Dukascopy Bank SA
© Scanpix/AFP
UK shares advanced on Monday amid optimism over Greece as the country passed budget cuts last week. However, an upward trend remained capped ahead of euro-area finance ministers' meeting later in the day. The finance ministers have to agree on EUR31.5 billion in loans to indebted Greece. Moreover, persistent worries over the US budget clashes weighted down on the UK stocks. The FTSE 100 Index eased up 0.28% to trade at 5,785.82. Four in ten sectors posted gains. Financials and consumer goods were the top-performers. Lloyds Banking Group and  Barclays rose 3.3% and 2.11%, while Burberry Group and Associated British Foods climbed 2.47% and 1.45%. Meanwhile, Rio Tinto added 0.16% despite a 36-strike at its Australian coal mines. On the downside were health care companies and industrials. AstraZeneca and BAE Systems dropped 0.35% and 0.87%. AstraZeneca declined despite announcing positive top-line results from Phase III trials of naloxegol.

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