British Equities Start Week in Green; Ithaca Energy Shines

11:46 AM EDT, 10/05/2026 (MT Newswires) -- London shares rose on Monday, with the FTSE 100 closing 0.26% higher, as investors evaluated the latest economic reports and corporate announcements. Across Britain's private sector, output growth eased to a three-month low in September, with both the services and manufacturing industries seeing softer rates of growth amid rising inflationary pressures. The seasonally adjusted S&P Global UK Composite PMI edged down to a final reading of 52 in September from 52.5 in the previous month. The flash estimate stood at 51.7. "Surging fuel prices due to the Middle East conflict continued to drive up input cost inflation in September. This led to the sharpest increase in prices charged by service sector companies since May and therefore signalled a clear reversal of the slowdown seen in the middle of 2026," S&P Global Market Intelligence Economics Director Tim Moore said. New car registrations in the UK climbed 12% year over year to 350,536 units in September 2026, reflecting the strongest growth for the month since 2017, according to updated data from the Society of Motor Manufacturers and Traders. The reading also marks the 10th successive month of growth in the UK car market. "The plate-change month is one of the year's most important, typically accounting for around one in seven annual registrations. While consumer confidence has improved recently and GDP growth been more resilient than expected, the overall growth is largely being driven by intense competition - significantly from new entrants - increased choice and attractive deals which are encouraging many into the new car market who might otherwise have bought used," SMMT said. In corporate news, Ithaca Energy (ITH.L) rose 2.54% to one of the top spots on the blue-chip index after agreeing to acquire certain oil assets offshore Newfoundland and Labrador in Canada from Canadian exploration and production company Suncor Energy for an upfront consideration of $860 million. BT Group (BT-A.L) acquired TalkTalk Telecommunications and PlatformX Communications out of administration, driving shares up 1.58% at closing. The telecommunications group expects a total cash impact of 400 million pounds sterling in 2027 from the transaction, which concluded on a debt-free basis. The UK Competition and Markets Authority is investigating the acquisition after the UK government issued a public interest intervention notice. The regulator is due to present a report to the Secretary of State for Digital, Culture, Media and Sport by Oct. 19. Metlen Energy & Metals (MTLN.L) increased 1.73% amid a long-term gallium supply deal with a Japanese chemical company, covering up to 16% of annual production from its planned facility in Greece.