Miners, oil stocks boost UK's FTSE 100; HSBC rises after results

Oil majors BP and Royal Dutch Shell climbed 1.6% and 1.3% respectively, as crude prices hit multi-year highs amid tightening supply and rising fuel demand. The domestically focussed mid-cap index advanced 0.2%, with industrial stocks among the top performers.

London's blue-chip index rose on Monday, as higher commodity prices lifted oil and mining stocks, while shares in Asia-focussed bank HSBC inched higher after it posted a higher-than-expected profit. The FTSE 100 had gained 0.3% by 0718 GMT, with HSBC up 0.5% after the bank reported 74% rise in third-quarter profit, topping analysts' estimates, and announced a share buyback of $2 billion.

Miners were the biggest boost to the index, adding 1.4% as copper prices rebounded from a fall last week, as inventories in Shanghai exchange warehouses dropped to a more than 12-year low. Oil majors BP and Royal Dutch Shell climbed 1.6% and 1.3% respectively, as crude prices hit multi-year highs amid tightening supply and rising fuel demand.

The domestically focussed mid-cap index advanced 0.2%, with industrial stocks among the top performers. Darktrace Plc was among the worst performers on the mid-cap index, falling 5.6% after Peel Hunt initiated coverage with a "sell" rating.

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