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FTSE 100 rises on commodity boost, set to end turbulent week higher

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UK’s benchmark FTSE 100 index rose on Friday led by commodity stocks and was set to end the week higher, after a few volatile sessions that saw the announcement of the country’s new Prime Minister and the death of its longest-reigning monarch.

The blue-chip FTSE 100 index rose 0.6% at 07:05 GMT, and was headed for its second straight weekly gain.

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Oil majors BP and Shell climbed 1.1% and 0.7%, respectively, while miners added 3.3%, tracking firm commodity prices.

Queen Elizabeth, Britain’s longest-reigning monarch, the nation’s figurehead and a towering presence on the world stage for seven decades, died peacefully at her home in Scotland on Thursday.

The domestically focussed mid-cap index gained 0.6% and was set to end the week 0.7% higher.

Royal Mail rose 0.6%, after saying it was not involved in talks with a private-equity firm over a potential sale of the postal group amid clash with its largest labor union over pay. (Reporting by Bansari Mayur Kamdar in Bengaluru; Editing by Rashmi Aich)

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