UK shares jump as mining stocks track commodity price gains

British stocks rose on Tuesday and were set for a fourth straight session of gains as mining stocks tracked a rise in commodity prices, while Glencore reinstating its dividend further boosted sentiment. Glencore added 3.7% as it reinstated its dividend after its net debt fell by 10% in 2020, helped by surging commodity prices in the second half. The mid-cap FTSE 250 index added 0.4%.

British stocks rose on Tuesday and were set for a fourth straight session of gains as mining stocks tracked a rise in commodity prices, while Glencore reinstating its dividend further boosted sentiment. The commodity-heavy FTSE 100 was up 0.6% by 0806 GMT, supported by miners Anglo American, Rio Tinto and oil producers BP and Royal Dutch Shell .

Financial stocks were also among the biggest gainers on the index in early trading. Glencore added 3.7% as it reinstated its dividend after its net debt fell by 10% in 2020, helped by surging commodity prices in the second half.

The mid-cap FTSE 250 index added 0.4%. In company news, drugmaker AstraZeneca rose 0.2%, after the World Health Organization (WHO) listed its COVID-19 vaccine for emergency use, widening access to the relatively inexpensive shot in the developing world.

BHP Group fell 0.2% even after the miner reported its best first-half profit in seven years and declared a record interim dividend.