BP Stock- Miners, energy stocks lift UK shares as lockdown begins to ease
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March 8 (Reuters) – British shares rose on Monday, boosted by gains in mining and energy stocks on higher commodity prices, while the easing of a stringent lockdown also lifted sentiment.
The blue-chip FTSE 100 index rose 0.5%, with mining stocks, including Rio Tinto, Anglo American and BHP, gaining between 0.9% and 1.2%.
Oil producers BP and Royal Dutch Shell were also among the biggest gainers on the index as crude oil prices surged.
The reopening of England’s schools to all pupils on Monday will mark the first step back towards normality and is only possible because of the efforts of the public to bring COVID-19 infection rates down, Prime Minister Boris Johnson said.
The domestically focused mid-cap FTSE 250 index rose 0.6%, led by consumer discretionary stocks.
Life insurer Phoenix gained 1.8%, after posting a 48% rise in annual operating profit, helped by its purchase of Swiss Re’s British business ReAssure last year.
Reporting by Shivani Kumaresan in Bengaluru; Editing by Rashmi Aich