On Monday, U.K. stocks exhibited little movement or slight declines, following government data indicating a stagnant U.K. economy in the third quarter. The Office for National Statistics reported that real GDP was flat, revised lower from an initial estimate of a 0.1 percent increase. This stagnation was due to zero growth in the services sector, where moderate construction expansion was offset by a decline in industrial production. This lack of movement follows a 0.4 percent growth recorded in the second quarter.
Annually, real GDP grew by 0.9 percent, down from the previous forecast of 1.0 percent. The FTSE 100 index fell by 9 points, or 0.1 percent, landing at 8,075, having already closed 0.3 percent lower the previous Friday.
AstraZeneca's shares rose by about 1 percent as the company received EU approval for its lung cancer medication, Tagrisso, following strong outcomes in a phase III clinical trial. Meanwhile, Aviva's shares saw a slight dip, whereas Direct Line Insurance's stock surged nearly 3 percent. This rally came after its board accepted a £3.7 billion acquisition offer from Aviva, reversing their earlier rejections of proposals from the insurance competitor.
Chesnara, a company specializing in life and pensions consolidation, experienced a 1 percent decrease in shares after announcing its second portfolio acquisition agreement with Canada Life Ltd., known as Canada Life UK, involving a closed portfolio of unit-linked bonds and legacy pension assets.
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