FTSE 100 edges higher, Shein ignites interest with planned London IPO - Market Report

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The FTSE 100 edged slightly higher on Monday, keeping the positive run going which has seen the index break record highs multiple times in the last few months. Fast fashion giant Shein provided some additional optimism to UK investors after reports revealed it was finishing off the final touches of its application for a London IPO. Valued last year at around £53 billion, the Chinese group has hired investment banks and lawyers in the City to prepare for one of Britain's largest listings in recent years. Cambridge-based computer science firm Raspberry Pi also said it was interested in listing in London in the coming weeks, increasing hopes that the recent exodus of UK stocks is beginning to end. Mission Group, the digital marketer, also added to the trend, after it rejected a takeover bid from fellow small-cap Brave Bison. Brave Bison offered 29.04p per Mission Group share, representing close to a 28% premium compared to its closing price last week. Finally, in macro news, new data revealed wages have grown more over the last twelve months than in the previous 16 years. In real terms, earnings jumped by 2% in the year to February, bringing an end to a decade and a half when wages struggled to grow ahead of prices. #ProactiveInvestors #marketreport #ftse #ftse100 #footsie #shein #raspberrypi #missionggroup #bravebison #invest #investing #investment #investor #stockmarket #stocks #stock #stockmarketnews