London's stock market showed a modest recovery on Monday, offering investors a glimpse of optimism as they look ahead to a week teeming with crucial economic reports.
By 07:12 GMT, the FTSE 100 index, representing blue-chip companies, inched up by 0.2% to settle at 8,162.29. This comes on the heels of its longest stretch of weekly declines in over four years. Mirroring this, the mid-cap FTSE 250 also saw a 0.2% rise, reaching 20,152.36. Both indexes appear poised for gains after enduring a two-session decline.
Traders are treading cautiously, abstaining from significant investments as they await a range of forthcoming domestic economic data. Key highlights this week include the consumer price index (CPI) figures that will be unveiled by Wednesday. Adding to the suspense is the Bank of England's policy meeting set for Thursday, where decisions on interest rates will be on the table.
All eyes are particularly on the Bank of England's policy decisions and the latest CPI numbers to gauge the economic landscape more accurately.