The LSE remains quiet despite record budget deficit

There’s not much movement on the London Stock Exchange as investors await a resolution to the debt ceiling talks in the US. The FTSE 100 gained 0.2% on Monday, despite miners and oil majors underperforming, as commodity prices declined.

The index was flat this morning, after the Office for National Statistics revealed that the UK recorded a budget deficit of 25.56 billion pounds in April, while economists surveyed by Reuters expected 19.75 billion pounds. Worries linked to the UK debt are adding to the worries related to the US debt, as interest rates rise.

Among stocks, BT Group rose 1.7%% after French billionaire Patrick Drahi increased his stake in the company to 24.5%.

Things to read today:

Are private markets a route to higher returns? (Financial Times)

The Man Who Spends $2 Million a Year to Look 18 Is Swapping Blood With His Father and Son (Bloomberg)