UK March PMI at 47.9 vs est. 48
Cineworld slumps on ditching U.S., UK businesses sale
Airlines slide on higher oil prices
NCC Group down on brokerage PT cuts
FTSE 100 up 0.7, FTSE 250 adds 0.1

April 3 Reuters UK39;s FTSE 100 hit a threeweek high on Monday, lifted by oil majors as crude prices rallied following a surprise output cut by OPEC, while Cineworld Group hovered near record lows as it failed to find a buyer for its U.S., UK and Ireland businesses.

Energy heavyweights Shell Plc and BP Plc advanced more than 3 each, as oil prices jumped nearly 6 following an unexpected output cut by the Organization of the Petroleum Exporting Countries and its allies.

The broader energy sector rallied 4.0, its biggest daily gain in nearly two months.

The exportoriented FTSE 100 rose 0.7, starting the new quarter higher, as the pound slipped.

The domesticallyoriented FTSE 250 was up 0.1, as of 0844 GMT.

The FTSE 100 is leading the charge among European markets, with Shell and BP at the top of the index, after the unexpected move by OPEC to boost oil prices, said Victoria Scholar, head of investment at interactive investor.

Lenders, up 2.0, also lifted the bluechip FTSE 100.

Cineworld Group Plc plunged 24.1, hitting its lowest levels since late August, as the cinema operator said it has terminated the sale process for its U.S., UK and Ireland businesses.

Both the FTSE indexes started 2023 stronger on hopes that the global economy would avoid a recession this year but…