UK shares move higher despite weak risk sentiment

Source: Dukascopy Bank SA
© Scanpix/AP
UK stocks are trading higher in thin Monday's session despite weak sentiment as US lawmakers have not agreed on budget yet. Adding pressure on the UK blue chips, national home prices tumbled for the sixth month in a row in December amid soft demand for loans. The FTSE 100 Index added 0.22% to trade at 5,951.70. All but one sector within the index advanced. The top-gainers were basic materials and utilities. Vedanta Resources, Xstrata and Kazakhmys climbed 2.17%, 1.38% and 1.32%, respectively. Among utilities, National Grid and United Utilities Group gained 0.71% and 0.37%. On the upside was also Wier Group, soaring 0.75% on reports that the firm has expanded its operations in the North American shale gas market due to acquisition of Mathena. Meanwhile, energy stocks rebounded, with BP and AMEC jumping 0.39% and 0.99%. The only sector witnessing losses was industrials sector. BAE Systems and Bunzl dived 0.49% and 0.30%.


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