FX.co ★ FTSE 100 Modestly Higher As Factories Return To Growth

On Monday, U.K. stocks saw slight gains, buoyed by a positive report from S&P Global indicating an uptick in the manufacturing sector. The manufacturing index rose to 51.2 in May, an improvement from April's figure of 49.1, achieving its highest level since July 2022.

The FTSE 100 index increased by 29 points, or 0.4%, reaching 8,304. This follows a 0.5% rise on Friday.

In corporate developments, shares of pharmaceutical giant GSK dropped sharply by 9.2% after a Delaware state court acknowledged credible evidence linking its Zantac heartburn medication to cancer, potentially opening the door to over 70,000 lawsuits.

Sirius Real Estate saw a 1.8% increase. The company, which owns and operates branded business and industrial parks in both Germany and the U.K., reported higher FFO (Funds From Operations) for the fiscal year ending March 31, 2024.

Meanwhile, Cerillion, a firm specializing in billing, charging, and customer management systems for the telecommunications industry, rose 1.3% following the announcement of a new project with Virgin Media Ireland.