FTSE 100 Gains Led By Miners And Energy Stocks

RTTNews | 821 days ago
Stocktwits
FTSE 100 Gains Led By Miners And Energy Stocks

(RTTNews) - U.K. stocks rose on Wednesday as stronger commodity prices on the back of a weaker dollar boosted mining and energy stocks.

Overall gains remained limited ahead of U.S. consumer price inflation report due later in the day.

The benchmark FTSE 100 was up 50 points, or 0.6 percent, at 7,835 after closing 0.6 percent higher on Tuesday.

Miners extended gains from the previous session on China stimulus hopes. Antofagasta rose 0.8 percent and Glencore added 1.3 percent.

Oil & gas firm BP Plc gained 0.8 percent and Shell advanced 1.4 percent after crude prices jumped nearly 2 percent overnight.

Hikma Pharma edged up slightly after naming Riad Mishlawi as its next CEO.

Petrofac plunged more than 16 percent. The oilfield services provider said it expects to report a full year Group EBIT loss of about US$150 million to US$170 million for 2022, including an EBIT loss of about US$240 million to US$260 million in Engineering & Construction.

Stocktwits
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