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Energy, mining stocks boost FTSE 100, stronger pound limits gains

05/10/2021 03:28
Energy, mining stocks boost FTSE 100, stronger pound limits gains

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Both FTSE 100, FTSE 250 add 0.1%

- London's FTSE 100 edged higher on Monday, led by heavyweight commodity stocks, although gains were limited as the pound strengthened and investors awaited new government plans for easing COVID-19 lockdowns.

The blue-chip index .FTSE rose 0.1%, with miners mainly Anglo American AAL.L, BHP Group BHPB.L and Rio Tinto RIO.L providing the biggest boost as copper prices touched record highs on hopes for improved demand amid tightening supply. MET/L

Oil majors BP BP.L and Royal Dutch Shell RDSa.L added 1% each, tracking crude prices. O/R

However, the FTSE 100 index's gains were limited as large dollar-earning consumer staples companies including Unilever ULVR.L and Diageo DGE.L slipped due to a stronger pound. GBP=

Prime Minister Boris Johnson will hold a press conference later in the day about how the country will move into the next phase of reopening from the COVID-19 lockdown. nL8N2MX153nL8N2MW0BB

The domestically focussed mid-cap FTSE 250 index .FTMC advanced 0.1% to touch a record high, with bakery and fast food chain Greggs GRG.L surging 7.5% after raising its profit outlook. nL8N2MX14L


(Reporting by Devik Jain in Bengaluru; Editing by Subhranshu Sahu)

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