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UK Shares Jump as Mining Stocks Track Commodity Price Gains

British stocks rose on Tuesday and were set for a fourth straight session of gains as mining stocks tracked a rise in commodity prices, while Glencore reinstating its dividend further boosted sentiment.

The commodityheavy FTSE 100 was up 0.6 by 0806 GMT, supported by miners Anglo American, Rio Tinto and oil producers BP and Royal Dutch Shell.

Financial stocks were also among the biggest gainers on the index in early trading.

Glencore added 3.7 as it reinstated its dividend after its net debt fell by 10 in 2020, helped by surging commodity prices in the second half.

The midcap FTSE 250 index added 0.4.

In company news, drugmaker AstraZeneca rose 0.2, after the World Health Organization WHO listed its COVID19 vaccine for emergency use, widening access to the relatively inexpensive shot in the developing world.

BHP Group fell 0.2 even after the miner reported its best firsthalf profit in seven years and declared a record interim dividend.

Reporting by Shivani Kumaresan and Amal S in Bengaluru; Editing by Vinay Dwivedi

Source Reuters

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