FTSE 100 Gains Led By Resource Stocks
(RTTNews) - U.K. stocks traded higher on Monday ahead of a busy week, with investors awaiting cues from a U.S. presidential election and interest rate decisions from the Federal Reserve and Bank of England.
The Bank of England meets on Thursday, and a 25-bps rate cut is widely expected. The benchmark FTSE 100 was up 42 points, or half a percent, at 8,219 after closing 0.8 percent higher on Friday.
Resources-linked shares were moving higher on the back of higher commodity prices. Miners Anglo American, Antofagasta and Glencore were up between 0.6 percent and 1.2 percent.
Energy giant BP Plc added 1.3 percent and peer Shell gained 1.2 percent as oil prices rose more than $1 on a decision by OPEC+ to delay by a month plans to increase output.
Burberry jumped nearly 5 percent following reports that Italy's Moncler could be considering making a bid for the luxury firm.
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