U.K.’s FTSE 100 starts week up on energy boost; ASOS surges. Energy industries lifted the U.K.’s FTSE 100 on Monday after Saudi Arabia threatened to restrict supplies. In addition, ASOS had its best day in over two weeks after an Alibaba-backed rival reportedly bid for the store.
Following Saudi Arabia’s vow to decrease output by 1 million barrels per day from July, oil prices rose, and the resource-heavy FTSE 100 (.FTSE) gained 0.4%. Energy businesses (.FTNMX601010) rose 1.1%.
ASOS PLC (ASOS.L) rose 5.9% after a Turkish retailer backed by Alibaba Group Holding Ltd (9988. H.K.) reportedly bid for the U.K. company, helping the mid-cap FTSE 250 rise 0.3%.
Retail (.FTNMX404010) gained 0.4%.
Indivior Plc (INDV.L) shares rose 10.3% to a four-month high after the U.S. drugmaker settled a lawsuit by U.S. states accusing it of improperly limiting generic competition for its opioid addiction therapy Suboxone.
