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

UK records another 1,882 coronavirus cases, 10 deaths

London UK, April 18 ANIXinhua Another 1,882 people in Britain have tested positive for COVID-19, bringing the total number of coronavirus cases in the country to 4,387,820, according to official figures released Sunday. The country also rep...

Actor complains against realtor over non-payment of loan

Hyderabad, Apr 18 PTI A Telugu actor has filed a police complaint saying a realtor had cheated him and his family of Rs 7.5 crore.In a video message on Sunday, the actor Naresh said the realtor had borrowedthe amount six years ago butdid no...

No charges will be levied from states for COVID-19 isolation coaches: Northern Railways

No charges will be levied from states for COVID-19 isolation coaches, said Northern Railway General Manager Ashutosh Gangal on Sunday. To my knowledge, no charges will be levied from states for COVID isolation coaches. Health ministry guide...

Macron says nations must 'define red lines' with Russia

French President Emmanuel Macron says that while dialogue with Russia is essential, clear red lines carrying possible sanctions must also be drawn with Moscow over Ukraine. Referring to a recent buildup of Russian troops on Ukraines border,...

Give Feedback