The UK’s FTSE 100 index recorded a slight gain on Monday morning, recovering some ground after closing lower last Friday due to weaker-than-expected U.S. labor market data, which showed a rise in unemployment.
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According to The Times, the index climbed by 0.29%, or 27 points, reaching 9,095.50.
Among the top gainers was Lloyds Banking Group, whose shares rose 5.9% after the company reassured investors that any additional provisions for car finance compensation—beyond the previously allocated £1.2 billion—are “unlikely to have a material impact.”
Shares of Close Brothers, a constituent of the FTSE 250, soared 23% after the Financial Conduct Authority (FCA) announced a potential compensation plan valued at £18 billion—significantly lower than earlier estimates. The announcement followed a Supreme Court decision that overturned key parts of a prior ruling that could have exposed the car finance sector to over £30 billion in liabilities.
Additionally, falling oil prices supported a rise in shares of IAG, the parent company of British Airways. Aerospace components manufacturer Melrose and defense contractor Babcock also saw gains.
