UK blue chips steady as miners rise, focus on U.S. jobs data

Industrial metal miners added 1.1%, capping losses on the blue-chip index, supported by a recovery in copper prices. The domestically focussed mid-cap index declined 0.1%.

The FTSE 100 held steady in early deals on Friday as mining stocks gained on firmer copper prices, while investor focus was firmly set on U.S. jobs data due later in the day for clues on the pace of U.S. interest rate hikes. The commodity-heavy FTSE 100 was flat at 0815 GMT, but still on course for a near 0.8% rise in the first week of the year.

The latest U.S. jobs report is of added significance after minutes from the Federal Reserve's December meeting signalled faster-than-expected U.S. rate hikes, triggering a global sell-off in equity markets. Industrial metal miners added 1.1%, capping losses on the blue-chip index, supported by a recovery in copper prices.

The domestically focussed mid-cap index declined 0.1%. Aston Martin inched up 0.5% after the British luxury automaker sold 6,182 cars to dealers in 2021, up 82%, driven by demand for its first sport utility vehicle, the DBX.

C&C Group fell 1.1% after the drinks producer's December sales lagged expectations on renewed pandemic-related restrictions across the UK and Ireland due to rising cases of the Omicron coronavirus variant.