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.)


TRENDING

OPINION / BLOG / INTERVIEW

East African women traders: 'Celebrating the past, planning for the future'

COVID-19 has hit women disproportionately hard across East Africa, especially those working in the informal sector. Lessons must be learnt to prevent this from happening again....

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....

Videos

Latest News

Five-storey building collapses in Shimla's Sanjauli area

A five-storey building collapsed in Sanjauli area of Himachal Pradeshs Shimla on Friday following incessant heavy rainfall in the region. The incident took place around 3.30 am today and no injuries have been reported so far due to the buil...

China says 3 citizens in UAE falsified tests

China says three of its citizens working in the United Arab Emirates have tampered with the results of their coronavirus tests required to return home.A statement from the Chinese Embassy said the three, working in the main business center ...

Hungary to widen services sector activity next week as vaccinations near 40%

Hungary will reach a 40 inoculation rate by the middle of next week, Prime Minister Viktor Orban told public radio on Friday, a milestone that would allow resumption of a wide range of activities in the services sector en route to normalcy....

Delhi: Max Hospital receives emergency oxygen supply after SOS

The Max Hospital-Saket on Friday morning sent out an SOS, saying it was left with an hours oxygen supply and over 700 patients admitted.Two hours later, in a tweet, the hospital confirmed that it had received emergency supplies, which will ...

Give Feedback