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U.K. Stocks Head Upwards as Many Markets Pause for May Day Holiday

Positive business updates from FTSE 100 heavy hitters boost Britain’s benchmark index as markets in most of Europe and Asia take a breather for public holidays. Lloyds Banking Group says it’s switched its focus from restructuring to growth as it reports a sharp increase in first-quarter profit and confirms plans to resume dividend payments . But struggling security services provider Serco Group declines as it prepares to issue new capital.