FTSE 100 Rises Led By Commodity Stocks

RTTNews | 678 days ago
Stocktwits
FTSE 100 Rises Led By Commodity Stocks

(RTTNews) - U.K. stocks advanced on Friday, with mining and energy stocks leading the surge.

Investors were reacting to mixed economic readings, with construction output rising in April while residential housebuilding suffered its steepest decline since May 2020.

The benchmark FTSE 100 was up 31 points, or 0.4 percent, at 7.735 after closing 1.1 percent lower on Thursday.

Oil & gas giant BP Plc jumped nearly 3 percent and peer Shell added 1.6 percent as oil prices rebounded after recent string of losses on demand worries.

Miners Anglo American, Antofagasta and Glencore all rose around 1.5 percent.

Intercontinental Hotels fell 2.6 percent after Keith Barr decided to step down from his role as Group CEO and from the IHG Board.

British Airways' owner IAG rallied 2.8 percent after narrowing its Q1 pre-tax loss and lifting its full year adjusted operating profit outlook.

Halma fell about 1 percent. The safety equipment maker said that it has agreed to buy Poland's Sewertronics for up to €59m (£52m).

Stocktwits
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