UK stock market today, Monday 12 September – what you need to know

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The FTSE 100 ended up 1.23% at 7,357.1 and the FTSE 250 rose 1.64% at 19,188.03 on Friday in a day overshadowed by news of Queen Elizabeth II’s death, with the new King Prince Charles III meeting new Prime Minister Liz Truss for the first time.

Stocks rose in part on a surge in energy and mining stocks, and the pound rebounded slightly, hitting $1.1647 against the dollar after hitting a low not seen since 1985 on Wednesday.

Chris Beauchamp, chief market analyst at online trading platform IG, said: “UK investors will no doubt feel somewhat conflicted given current events, and the BoE has followed the lead of other institutions by postponing its rate hike.

“But otherwise business is business as usual, and next week the focus will still be on the UK with CPI and employment data, although it’s unlikely to happen. there is a real change in trend for the British pound, which still seems to be on a downward trajectory against the dollar.

Friday, Darktrace (GB: DARK) gained 14% after plunging on Friday following news that US private equity firm Thoma Bravo was no longer considering a bid for the cybersecurity pioneer.

Shares in IT services company Computacenter (GB:CCC) fell more than 11% after profits fell 6.4% to £107.8million, which the company blamed on customers demanding the company hold more inventory. Mike Norris, Managing Director of Computacenter PLC, said, “We remain on track to meet our stated earnings growth expectations for the full year.”

UK business news today

Britain’s energy package will weigh on gilts and the pound, analysts warn (FT)

Liz Truss is navigating uncharted waters without the support of the Bank of England (Telegraph)
Inflation returns to center stage ahead of interest rate decision (Time)

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