British stocks on Monday got a lift from global chatter of stimulus in light trade.
The FTSE 100 UKX, +0.96% , which has lost ground for three weeks in a row,
Volumes were thin however with only one FTSE 100 component over 50% of its 30-day average at midday.
U.S. stock futures ES00, +0.99% also were stronger.
What’s happening
Two White House aides over the weekend gave upbeat assessments of the global economy. In addition, President Donald Trump said he would consider a request from Apple CEO Tim Cook to consider the impact on U.S. tariffs.
In addition, officials in Germany and China set the stage for potentially more stimulus.
In the U.K., Chancellor Sajid Javid over the weekend denied that he was planning to shift the tax on house transactions to sellers. The U.K. government also played down a leak of the impact of a no-deal Brexit, saying the report failed to account for the steps taken to minimize damage.
Britain is currently scheduled to leave the European Union on Oct. 31.
Focus stocks
Ocado OCDO, +4.47% rallied over 4% as JPMorgan Cazenove said the online supermarket is at a tipping point in terms of profitability. “It operates with the lowest picking costs in the industry and does not face the duplication of costs and capex that the incumbents face (stores and dark stores) or their declining asset values,” the broker said.
One of its rivals, J Sainsbury SBRY, +4.41% , rallied close to 5%.
CYBG CYBG, +3.71% shares rose 4% as UBS upgraded the Clydesdale Bank and Virgin Money UK owner to buy from neutral, saying it’s underperformed the sector by 20% and U.K. banks by 15% since the company gave its last update.
Mitie Group MTO, +1.89% rose 1.9% as the company said it’s selling its catering and hospitality business to CH&Co. for up to £85 million in cash.