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Energy, Mining Stocks Boost FTSE 100

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 rose 0.1%, with miners mainly Anglo American, BHP Group and Rio Tinto providing the biggest boost as copper prices touched record highs on hopes for improved demand amid tightening supply.

Oil majors BP and Royal Dutch Shell added 1% each, tracking crude prices.

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

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.

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

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

Source: Reuters

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