London’s FTSE 100 edged higher on Monday, led by heavy miners, although gains were limited by a stronger pound and as investors waited for new government plans to ease lockdowns.
Blue-chip index (.FTSE) rose 0.2%, with miners primarily Glencore (GLEN.L), BHP Group (BHPB.L) and Rio Tinto (RIO.L) providing the biggest boost as copper prices hit record highs. improved demand in a context of tight supply
Oil majors BP (BP.L) and Royal Dutch Shell (RDSa.L) added 1% and 0.4% respectively, depending on crude prices.
However, the gains of the FTSE 100 index were limited, with the major consumer staples companies reporting the dollar, including Unilever (ULVR.L), British American Tobacco (BATS.L) and Diageo (DGE.L), slipped due to a stronger pound. GBP =
British Prime Minister Boris Johnson will launch the next phase of easing the lockout in England on Monday, giving the green light to “careful hugs” and allowing pubs to serve pints to their customers indoors after months of strict measures. Read more
“There has certainly been a COVID-19 battle bounty built into UK stocks and the British pound for quite some time now because their vaccination schedule has gone so well and quickly and as they progress. , it’s going to increase, ”said Jeffrey Halley, senior market analyst. at OANDA.
“Potentially, the worst of the COVID-19 crisis is nearing the end of the game for the UK. The key to (economic normalcy) will be the reopening of international borders, but this one is a bit more difficult than the vaccination programs in other parts of Europe and the world. have not gone so well. “
Britain authorized the resumption of international travel from May 17, but only 12 countries and territories are on the so-called “green list”. Read more
Ryanair Holdings, IAG (ICAG.L), owner of British Airways, Wizz Air (WIZZ.L) and easyJet (EZJ.L) fell between 1.1% and 2.5%.
The domestically-focused mid-cap FTSE 250 Index (.FTMC) was stable. Bakery and fast food chain Greggs (GRG.L) jumped 9% to the top of the index after raising its earnings outlook.
However, Provident Financial (PFG.L) slipped 6.5% after the subprime lender said it expected costs of up to £ 100million ($ 140.61million) related the closing of its troubled home loan division.
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