FTSE 100 Rises as Miners, Energy Stocks Gain

Feb 15 Reuters Londons FTSE 100 rose on Monday, as mining and energy stocks tracked strong gains in commodity prices and investors were hopeful global vaccine rollouts would quicken the economic recovery this year.

The commodityheavy FTSE 100 was up 1.3 by 0911 GMT, boosted by miners Anglo American, Rio Tinto and BHP Group and oil producers BP and Royal Dutch Shell.

Government attempts to manage expectations on COVID19 better are helpful to the market which is now probably pleasantly surprised at just how quickly the UK has vaccinated the most vulnerable sections of its population, said Russ Mould, investment director at AJ Bell.

This is making it easier for investors to look through to a reopening of the economy even if the pace at which restrictions are eased remains a topic of fierce debate.

The FTSE 100 has recovered nearly 34 from its March 2020 lows, led by a raft of stimulus measures, but a surge in infections and recent widespread lockdowns have slowed economic growth. The index has also lagged its U.S. and European peers.

A recent Reuters poll found Britains economy will narrowly dodge a doubledip recession and will have returned to preCOVID19 levels within two years. British Prime Minister Boris Johnson will judge this week how fast England can exit COVID19 lockdown after vaccinating 15 million of its most vulnerable people.

The midcap FTSE 250 index added 1.1, gaining for a third straight session.

Britains housebuilding sector gained 0.9 as a survey…

What's your reaction?

In Love
Not Sure

You may also like

Leave a reply

Your email address will not be published. Required fields are marked *

More in:News