BROWSE

Energy, mining stocks boost FTSE 100, stronger pound limits gains | Reuters

London’s FTSE 100 edged higher on Monday, led by heavyweight commodity stocks, although gains were limited as the pound strengthened and investors awaited new government plans for easing COVID-19 lockdowns.

The blue-chip index rose 0.1%, with miners mainly Anglo American, BHP Group and Rio Tinto providing the biggest boost as copper prices touched record highs on hopes for improved demand amid tightening supply. [MET/L]

Oil majors BP and Royal Dutch Shell added 1% each, tracking crude prices. [O/R]

However, the FTSE 100 index’s gains were limited as large dollar-earning consumer staples companies including Unilever and Diageo slipped due to a stronger pound. [GBP=]

Prime Minister Boris Johnson will hold a press conference later in the day about how the country will move into the next phase of reopening from the COVID-19 lockdown.

The domestically focussed mid-cap FTSE 250 index advanced 0.1% to touch a record high, with bakery and fast food chain Greggs surging 7.5% after raising its profit outlook. Reporting by Devik Jain in Bengaluru; Editing by Subhranshu Sahu

Comments are closed.