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* Care services provider Caretech surges over 20% on
* Potential global infrastructure boost lifts mining stocks
* FTSE 100 up 0.7%, FTSE 250 adds 1.0%
June 27 (Reuters) - UK's FTSE 100 ended at a more than
one-week high on Monday, as an easing of COVID restrictions in
China and the prospect of global infrastructure funding brought
relief to commodity prices, lifting shares of major oil and
The commodity-heavy FTSE 100 rose 0.7% and hit its
highest closing level since June 16, while the domestically
focused mid-cap FTSE 250 index advanced 1.0%.
Risk sentiment improved as easing COVID curbs in Shanghai
and relaxed testing mandates in several Chinese cities supported
base metal prices.
"The burst of global enthusiasm for equities has put a
spring in the step of the FTSE 100 at the start of the week,"
Hargreaves Lansdown analyst Susannah Streeter said.
Oil majors Shell and BP both rose over 1.5%,
leading gains on the index.
Meanwhile, mining stocks Anglo American, Rio Tinto
and Glencore gained between 1.7% and 3% after Group of
Seven leaders pledged to raise $600 billion of private and
public funds in five years to finance needed infrastructure in
"It is hoped this scheme, seen as a counter to China's Belt
and Road Initiative, will set off a spurt of spending and demand
for commodities around the world," Streeter added.
UK's FTSE 100 index has tumbled 4.6% in June, and was set to
post its first monthly decline in four, as blue-chip stocks bear
the brunt of growing recession fears due to aggressive monetary
policy tightening to tame surging inflation.
Among individual stocks, CareTech surged 21.1% after
the UK-based provider of care and residential services agreed to
be acquired by a consortium led by Sheikh Hoidings in a 870.3
million pounds ($1.07 billion) deal.
BAE Systems rose 2.0% after the defence company
received a $12 billion contract from the U.S Department of
IHG gained 1.1% after the Holiday Inn-owner said it
was stopping all operations in Russia due to Western sanctions
and increasing challenges of doing business there after the
(Reporting by Boleslaw Lasocki in Gdansk and Amal S in
Bengaluru; Editing by Sherry Jacob-Phillips, Amy Caren Daniel
and Andrew Heavens)