Monday 05 July 2021 3:46 pm | Updated: Monday 05 July 2021 3:52 pm

FTSE 100 lifts as supermarkets drive rally

The capital’s premier FTSE 100 index slid 2.21 per cent to 7,109.19 points, while the mid-cap FTSE 250 index, which is more aligned to the health of the UK economy, plunged 1.98 per cent to 22,230.23 points

London’s FTSE 100 rose on Monday afternoon, driven by a rally in supermarket shares.

The capital’s premier index added 0.56 per cent to reach 7,163 in the afternoon session, paring back this morning’s losses.

The gains were partly caused by shares in supermarkets rising in afternoon trading after Apollo Global Management announced it was considering making a rival bid for the UK’s fourth largest supermarket, Morrisons.

The mid cap FTSE 250 climbed 1.06 per cent, driven by an 11 per cent surge in Morrisons’s share price, while AIM shares were down 0.11 per cent in the afternoon.

The pound appreciated against its US rival, adding 0.17 per cent against the greenback to buy $1.38.

Winners and losers

The day’s best performer was British Airways parent group IAG, surging 5.36 per cent, driven by new figures released today showing corporate air travel was rebounding sharply.

Bank Barclays ranked second, up 3.06 per cent in afternoon trading. Betting company Entain came third, increasing 2.95 per cent.

The day’s worst performer was miner Polymetal International, losing 1.38 per cent.

Takeaway delivery company Just Eat Takeaway was the second worst performer, dipping 1.31 per cent, while software company Aveva came third, clipping 1.21 off its share price in the afternoon session.