Recovery bets lift British stocks as miners, oil stocks jump

The blue-chip FTSE 100 index climbed 1.4% by 0804 GMT, with mining stocks including Rio Tinto, Anglo American and BHP gaining between 2.1% and 3.1%. Oil heavyweights BP and Royal Dutch Shell also provided the biggest boost, with gains of 1.8% and 1.7%, respectively.

Reuters | London | Updated: 01-03-2021 14:19 IST | Created: 01-03-2021 13:49 IST
Recovery bets lift British stocks as miners, oil stocks jump
Representative Image Image Credit: Pixabay

British shares rebounded on Monday, led by energy and mining stocks, as hopes of a vaccine-led economic recovery and more U.S. stimulus overshadowed fears of rising inflation and tightening monetary policy. The blue-chip FTSE 100 index climbed 1.4% by 0804 GMT, with mining stocks including Rio Tinto, Anglo American, and BHP gaining between 2.1% and 3.1%.

Oil heavyweights BP and Royal Dutch Shell also provided the biggest boost, with gains of 1.8% and 1.7%, respectively. The domestically focused mid-cap FTSE 250 index rose 1.3%. Britain's factory activity data for February is due at 0930 GMT.

AstraZeneca Plc rose 1.1% after a report said the company had sold its 7.7% stake in Moderna Inc for more than $1 billion. Ladbrokes owner Entain rose 1.7% as it raised its offer for rival sports betting firm Enlabs AB, valuing the Sweden-based company at about 3.7 billion crowns ($440.16 million).

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


TRENDING

OPINION / BLOG / INTERVIEW

Viral variants and vaccine nationalism pose two-pronged threat to Covid victory

... ...

Tracking Fintech during COVID-19: Harnessing power of technology

Its abundantly clear now that as fintech cements its place in the financial sector, accelerated further by the COVID-19 pandemic, it could open the sector to new possibilities by harnessing the power of technology to deliver financial ...

Tectonic turns: How technology shaped healthcare over the decades

Tracing an episodic evolution, with technology at the interface of human and his health....

World Water Day sees crises of inequality in countries both rich and poor

... ...

Videos

Latest News

Navy seizes narcotics worth Rs 3,000 crore from fishing vessel

The Indian Navy has seized narcotics worth Rs 3,000 crore from a fishing vessel, suspected to be of foreign origin, in the Arabian sea, a Defence spokesman said here on Monday.He said that the Indian Naval Ship Suvarna whilst on surveillanc...

Promising change, Germany's Greens make first bid for chancellery

The co-leader of Germanys Greens, Annalena Baerbock, said on Monday she would run to become chancellor in Septembers elections, the first time the left-leaning party has sought the top job in its 40-year history. Baerbock, a former champion...

Fertiliser minister asks urea makers to set up oxygen plants

Union Fertiliser Minister D V Sadananda Gowda on Monday urged urea manufacturers to set up medical oxygen plants at their premises to ramp up the supply of the gas amid surging cases of COVID-19 in the country.The minister also hailed coope...

Covid impact: Delhi Airport seeks financial help from Center

By Ashoke Raj Amid the surge in COVID-19 cases in the national capital, the Delhi International Airport Limited DIAL is facing financial challenges and has sought financial help from the central government.The earning of the airports depend...

Give Feedback