All Things Newz
Business

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


Article content

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.

Article content

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)



Source link

Related posts

Oil slides 3% as China lockdowns stoke demand fears

Wheat at 1-week high on Argentina crop woes, easing recession fears

UK posts record current account gap, urges caution on data