UK stocks edge higher, National Express jumps on contract win

LONDON: UK's main stock edged higher rose on Monday as positive corporate updates helped offset the gloom around the region's economic outlook, with shares of National Express surging after a contract win.

The blue-chip FTSE 100 edged up 0.1% to 7,778.0 after posting a loss last week on worries about a recession and hawkish comments from central banks. The midcap index edged up 0.4%.

National Express Group jumped 5% after the transport firm said its German rail transport business had won a 1-billion-euro ($1.09 billion) contract to operate two lines of the Rhein-Ruhr-Express in Germany until 2033. Dignity Plc gained 7.8% after the funeral services provider said it would be acquired by a consortium of investment firms in a deal valued at 281 million pounds ($349 million).

Among the laggards, Fuller Smith & Turner fell 6.9% as the pub group forecast full-year earnings would come in below market expectations as several tube and train strikes affected their sales.