Economic news

Financials, Commodity Stocks Boost FTSE 100

* FTSE 100 up 0.4%, FTSE 250 adds 0.3%

Sept 13 (Reuters) - London’s FTSE 100 index rose on Monday, helped by gains in heavyweight financial and commodity stocks, while Associated British Foods slipped to the bottom of the index following an earnings update.

The blue-chip index climbed 0.4%, with miners gaining 0.4%, while oil majors BP and Royal Dutch Shell rose about 1% each, tracking crude and metal prices.

Banks jumped 1.3% to provide the biggest boost to the index.

The domestically focused mid-cap FTSE 250 index advanced 0.3%.

Associated British Foods fell 3.1% after fourth-quarter sales at its Primark fashion business were lower than expected, with shopper numbers hurt by public health measures in its major markets to control the spread of COVID-19 and the Delta variant in particular.

SThree rose 4.7% after the recruiter forecast annual earnings “significantly above” current market estimates.

(Reporting by Devik Jain in Bengaluru; Editing by Shounak Dasgupta)

Source: Reuters


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