Royal Dutch Shell Stock – BP Stock – Miners, energy stocks lead UK stocks higher | Fintech Zoom
BP Stock- Miners, energy stocks lead UK stocks higher
British stocks 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 commodity-heavy FTSE 100 (.FTSE) was up 2.5%, clocking its best day in over a month, boosted by miners Anglo American (((AAL)).L), Rio Tinto (RIO.L) and BHP Group (BHPB.L) and oil producers BP (BP.L) and Royal Dutch Shell (RDSa.L).
“Government attempts to manage expectations on COVID-19 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.
England’s new COVID-19 hotel quarantine system for arrivals from high-risk countries is running smoothly after it was introduced earlier in the day, the health minister said. read more
British Prime Minister Boris Johnson said he would plot a “cautious but irreversible” path out of the COVID-19 lockdown, after the vaccination of 15 million people so far in Britain. read more
The mid-cap FTSE 250 index (.FTMC) added 1.8%, reaching over 11 month high, with travel group TUI AG gaining the most.The wider travel and leisure sub-index (.FTNMX5750) gained 4.3%.
Britain’s housebuilding sector (.FTNMX3720) gained 2.1% as a survey showed asking prices for homes unexpectedly rose in January and early February. read more
In company news, Rolls-Royce (RR.L) rose 3.5% after appointing Panos Kakoullis, the former head of Deloitte’s audit and assurance practice, as its new chief financial officer. read more
Pub operator Mitchells & Butlers (MAB.L) jumped 7.9%, after plans to raise 350 million pounds ($486.05 million) through an open offer of shares. read more
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BP Stock – Miners, energy stocks lead UK stocks higher
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