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FTSE CLOSE: London shares rise; NMC Health founder forced out; Japanese economy shrinks 6.3%; ii snaps up The Share Centre
- The FTSE 100 has closed up 0.3%, or 24.12 points at 7,433.25
- Pound fell 0.2% against dollar and euro, with £1 buying $1.30 and €1.20
- NMC Health shares recovered earlier losses to close 3% higher
- Laura Ashley shares fell 41% as it said needs more money to stay afloat
- Global dividend payouts pass the £1trn mark but pace of growth slows
European stock markets squeezed out small gains today, with investors encouraged by efforts in China to support the economy as it continues to battle the coronavirus.
Meanwhile the pound fell by about 0.2 per cent against both the dollar and the euro ahead of of a busy week for UK data – UK employment data is published tomorrow (Tuesday), inflation on Wednesday, retail sales on Thursday and flash PMIs on Friday.
The Japanese economy shrank at an annual pace of 6.3 per cent last quarter as growth was battered by typhoons and crimped consumer spending. The seasonally adjusted economic data comes amid looming fears about the economic damage expected from the new viral illness Covid-19.
In company news, the founder of under-fire hospital builder NMC Health, BR Shetty, has been forced down from the board after a scandal erupted over how much of the company he actually owns. Shares in NMC fell in morning trading, but managed to close 3 per cent higher.
Elsewhere, the Holden car brand will be no more, with General Motors opting to dump the name synonymous with Australian motoring by next year. GM will not just axe the Holden name but also stop selling cars in Australia.
The FTSE 100 closed up 0.3%, or 24.12 points at 7,433.25 on Monday
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