Weaker pound, commodity stocks lift FTSE 100 ahead of services activity data

The domestically focussed mid-cap FTSE 250 index advanced 0.5%, with Hilton Food Group jumping 2.1% after it reported an annual adjusted operating profit of 67 million pounds and proposed a final dividend of 19 pence per share. AstraZeneca Plc fell 0.8% after the University of Oxford paused a small UK trial testing the drugmaker's COVID-19 vaccine in children and teenagers, as it waits for more data on rare blood clotting issues in adults who received the shot.

London's FTSE 100 climbed on Wednesday as heavyweight commodity stocks gained and a weaker pound lifted exporters, while investors awaited final March service sector activity data later in the day. The blue-chip index rose 0.6%, with shares of large dollar-earning consumer staples companies including Unilever, Diageo Plc, and British American Tobacco gaining between 0.3% and 1.4% on a softer pound.

Energy Group BP Plc and Royal Dutch Shell Plc rose 1.8% and 0.8% respectively, while miners Rio Tinto, BHP, and Glencore Plc added more than 1% each on higher crude and metal prices. The domestically focussed mid-cap FTSE 250 index advanced 0.5%, with Hilton Food Group jumping 2.1% after it reported an annual adjusted operating profit of 67 million pounds and proposed a final dividend of 19 pence per share.

AstraZeneca Plc fell 0.8% after the University of Oxford paused a small UK trial testing the drugmaker's COVID-19 vaccine in children and teenagers, as it waits for more data on rare blood clotting issues in adults who received the shot.