FTSE 100 climbs as recovery bets boost mining, energy stocks

London's FTSE 100 rose on Thursday, helped by mining and energy stocks that tracked higher commodity prices, while Standard Chartered dropped after its annual profit more than halved due to the impact of the COVID-19 pandemic.

Reuters | London | Updated: 25-02-2021 14:04 IST | Created: 25-02-2021 13:58 IST
FTSE 100 climbs as recovery bets boost mining, energy stocks
Representative Image Image Credit: Pixabay

London's FTSE 100 rose on Thursday, helped by mining and energy stocks that tracked higher commodity prices, while Standard Chartered dropped after its annual profit more than halved due to the impact of the COVID-19 pandemic. The commodity-heavy FTSE 100 index was up 0.3% by 0808 GMT, with mining stocks, including Rio Tinto, Anglo American, and BHP, gaining between 1.5% and 3.6% on higher metal prices.

Oil heavyweights BP and Royal Dutch Shell also provided the biggest boosts, with gains of 1.2% and 0.8%, respectively. The domestically focused mid-cap FTSE 250 index rose 0.2%, led by industrials and consumer discretionary stocks.

Standard Chartered PLC fell 3.3% despite restoring its dividend and reaffirming its long-term profit goals. Anglo American gained 3% as it boosted dividends after strong commodity prices helped the diversified miner recover from coronavirus disruptions suffered in its first half.

Outsourcer Serco Group Plc rose 8.3% as it reinstated dividends and raised 2021 forecasts, after posting a 20% jump in annual revenue.

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


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