London stocks rose in early trade on Monday, helped along by strength in the energy sector, although trade was expected to be fairly quiet as US markets will be closed for the July 4 holiday.
At 0840 BST, the FTSE 100 was up 1.2% at 7,252.66.
Richard Hunter, head of markets at Interactive Investor, said: “Markets have generally started the new half year in more positive mood, possibly boosted by some early quarter portfolio positioning.
“US markets started July on a stronger note, ahead of another shortened trading week due to the Independence Day holiday today. The week will nonetheless bring some more economic clues, with the release of the latest Federal Reserve minutes and the non-farm payrolls report on Friday.
“The latter will be of particular interest to investors, since recent economic data has tended to suggest that the Fed’s recent aggressive tightening policy is already starting to have some impact. A slowing of consumer spending and income, alongside a higher than expected drop in manufacturing activity has left the door open to more bullish investors, who anticipate a lighter touch from the Fed if the contractionary signs continue.”
Jarvis Investment Management Ltd offers a wide range of stockbroking and administration services and solutions. Their parent company, Jarvis Securities plc (LON:JIM) is listed on AIM.
