- FTSE 100 up 0.5%, FTSE 250 gains 0.7%
- Entain gains after BetMGM raises annual forecast
- Spectris up after rejecting second KKR offer
June 13 (Reuters) - London's benchmark FTSE 100 rebounded on Monday, led by gains in Entain due to the gaming giant's strong earnings forecast, while investors remain focussed on escalating geopolitical tensions in the Middle East.
The blue-chip FTSE 100 was up 0.5% as of 1034 GMT, while the midcap FTSE 250 gained 0.7%.
Ladbrokes owner Entain jumped 11.5% - leading the FTSE 100 with the stock's biggest percentage gain since September 2021 - after its U.S. sports-betting joint venture, BetMGM, raised its annual revenue and core earnings forecast.
The travel and leisure subindex gained 2.2%.
Meanwhile, Israel and Iran continued to dominate headlines, with their conflict showing no signs of cooling.
Iranian missiles struck Israel's Tel Aviv and the port city of Haifa before dawn on Monday, in the latest series of tit-for-tat attacks that started last week.
The escalating tensions added more uncertainty to the world's economic troubles, spiking oil prices in the backdrop of the Group of Seven meeting that starts on Monday.
The G7 talks are seen as a vital moment to try and restore a semblance of unity between democratic powerhouses after U.S. President Donald Trump's shifting tariff policy upended global trade.
Focus then shifts to monetary policy meetings of the Bank of England and the U.S. Federal Reserve later this week, which will be watched for insights on how the central banks plan to navigate U.S. tariff-driven uncertainty.
In London, the midcap index was boosted by Spectris' 5.5% rise after the scientific instruments maker rejected a second takeover proposal from private equity firm KKR on Friday.
Metro Bank Holdings hit a two-year high after a report of takeover approach from private equity firm Pollen Street Capital. Shares of the British lender were up 13%.
Precious metal miners' subindex fell the most among sectors, down 1.5%, tracking lower gold prices.
Reporting by Sanchayaita Roy in Bengaluru; Editing by Leroy Leo
Source: Reuters