Miners, banks boost FTSE 100 ahead of construction activity data

The blue-chip index rose 0.4% to its highest since February last year, with Johnson Matthey jumping 3.4% after the chemicals maker said it had started a strategic review of its health business. Mining stocks rose with Anglo American gaining 2.5%, as the company said it would spin off its thermal coal assets in South Africa. Among other stocks, Lookers jumped 15% after the auto retailer forecast 2021 underlying profit before tax to be materially ahead of analysts' estimates.

London's FTSE 100 climbed on Wednesday supported by gains in heavyweight mining and banking stocks, while investors awaited March construction industry activity data later in the day. The blue-chip index rose 0.4% to its highest since February last year, with Johnson Matthey jumping 3.4% after the chemicals maker said it had started a strategic review of its health business.

Mining stocks rose with Anglo American gaining 2.5%, as the company said it would spin off its thermal coal assets in South Africa. The domestically focussed mid-cap FTSE 250 index edged 0.04% lower after scaling a record high in the previous session.

Globally, investor sentiment was upbeat after the Federal Reserve underlined its commitment to keeping policy super loose even as the U.S. economy enjoys a rapid recovery. Among other stocks, Lookers jumped 15% after the auto retailer forecast 2021 underlying profit before tax to be materially ahead of analysts' estimates.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)