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FTSE 100 Marginally Higher As Commodity Stocks Surge
(RTTNews) - U.K. stocks advanced on Monday, with commodity-related stocks leading the surge as China opened its borders for travel for the first time in three years as part of its new policy on COVID-19.
The benchmark FTSE 100 edged up 0.1 percent to 7,708 after closing 0.9 percent higher on Friday.
Anglo American, Antofagasta and Glencore jumped 1-3 percent as base metal prices advanced on hopes of demand recovery in China, the world's second-largest economy.
Oil & gas firm BP Plc added 1.3 percent and Shell rose 1.2 percent, tracking gains in crude oil prices.
Keller Group shares plunged 7 percent. The engineering contractor said it has identified a financial reporting fraud in its Austral Business Unit in Australia.
Vodafone dropped 1 percent. The telecom major has entered into a deal with 4iG Public Limited Company and Corvinus Zrt, a Hungarian state holding firm, to sell Vodafone Magyarország Zrt, for a cash consideration of HUF 660 billion or 1.7 billion euros.
Drug major AstraZeneca lost about 1 percent after it agreed to buy U.S. biotech CinCor Pharma.
Gaming firm Devolver Digital slumped 5.5 percent and Frontier Developments nosedived 40 percent after disappointing trading updates.
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