By Emily Horton
London markets rose Monday, boosted by heavyweight oil company Royal Dutch Shell Group PLC, though weak China data weighed on miners.
Budget airline Ryanair Holdings PLC lost 5%, after it announced a third-quarter loss.
How did markets perform?
The FTSE 100 /zigman2/quotes/210598409/delayed UK:UKX +0.52% rose 0.2% to 7,034.05, after finishing up 3.1% the following week.
Meanwhile, the pound /zigman2/quotes/210561263/realtime/sampled GBPUSD +0.0144% dropped to $1.3050 from $1.3082, late on Friday in New York.
What’s driving the markets?
While oil majors rose, mining stocks fell after data released over the weekend showed slower growth in China’s service sector in January, contrasting with official data that pointed to a faster expansion in the sector. Mining stocks are particularly sensitive to news on China’s economy given the country is a major buyer of natural resources.
Meanwhile, U.K. purchasing managers index data showed construction growth hit a 10-month low in January, as Brexit uncertainty continues to undermine the industry, Dow Jones Newswires reported. Minister Theresa May is expected to launch a new initiative in her fight to secure a Brexit deal with Brussels this week.
What shares were active?
London-listed Ryanair Holdings PLC /zigman2/quotes/202851567/delayed UK:RYA +2.19% lost nearly 3%, after it laid out plans for leadership succession as it swung to a third-quarter net loss. Despite changes to the board, the budget airline’s CEO Michael O’Leary will remain in his role.
Car manufacturer Auto Trader Group PLC /zigman2/quotes/208097104/delayed UK:AUTO -0.78% lost 2%, while miner Fresnillo fell by almost 2% and BHP Group /zigman2/quotes/203323256/delayed UK:BHP +0.35% lost 1.4%.