UK Markets close in 3 hrs 14 mins
  • FTSE 100

    6,903.84
    +8.55 (+0.12%)
     
  • FTSE 250

    22,221.76
    +136.03 (+0.62%)
     
  • AIM

    1,258.91
    +13.28 (+1.07%)
     
  • GBP/EUR

    1.1512
    -0.0058 (-0.50%)
     
  • GBP/USD

    1.3871
    -0.0061 (-0.4356%)
     
  • BTC-GBP

    39,526.38
    -395.34 (-0.99%)
     
  • CMC Crypto 200

    1,277.36
    +14.40 (+1.14%)
     
  • S&P 500

    4,173.42
    +38.48 (+0.93%)
     
  • DOW

    34,137.31
    +316.01 (+0.93%)
     
  • CRUDE OIL

    61.25
    -0.10 (-0.16%)
     
  • GOLD FUTURES

    1,784.10
    -9.00 (-0.50%)
     
  • NIKKEI 225

    29,188.17
    +679.62 (+2.38%)
     
  • HANG SENG

    28,755.34
    +133.42 (+0.47%)
     
  • DAX

    15,278.58
    +82.61 (+0.54%)
     
  • CAC 40

    6,251.97
    +41.42 (+0.67%)
     

British shares end higher led by gains in oil and mining stocks

  • Oops!
    Something went wrong.
    Please try again later.
Devik Jain and Shashank Nayar
·2-min read
FILE PHOTO: The London Stock Exchange offices in the City of London, Britain
  • Oops!
    Something went wrong.
    Please try again later.

By Devik Jain and Shashank Nayar

(Reuters) -British shares ended higher on Tuesday led by heavyweight commodity-focussed stocks, while prospects of a planned economic reopening from a coronavirus lockdown starting next week helped boost sentiment towards beaten down travel and leisure shares.

The blue-chip FTSE 100 index ended up 1.3% at its highest since Jan. 8. Energy group BP Plc gained 3.5% and was the biggest boost to the index after saying it expects to reach its $35 billion net debt target in the first quarter of 2021.

Mining heavyweights Rio Tinto, BHP group and Anglo American jumped nearly 2.5% each, tracking higher metal prices. [METL/]

"As uncertainty about Brexit has pretty much cleared away and (hopes) of a stronger global economic recovery (increase), I'd expect the UK economy is going to be in a better position than some this year and sort of more domestic kind of UK focus stocks to do quite well," said Neil Wilson, chief market analyst for Markets.com.

The FTSE 100 has risen 5.6% so far this year, supported by speedy vaccine rollouts and a raft of economic stimulus, although a spike in virus cases across Europe and a jump in benchmark bond yields tempered optimism.

The number of people heading out to shops across Britain rose by 8.5% in the week to April 3 versus the previous week despite the national lockdown, market researcher Springboard said on Tuesday.

Consumer goods manufacturers Unilever and Diageo also led gains to the FTSE 100, adding 1.6% and 2.5% respectively.

Prime Minister Boris Johnson on Monday said England could proceed to Stage 2 of his roadmap out of lockdown from April 12 with the opening of all shops, gyms, hairdressers and outdoor hospitality areas.

Globally, mood was also lifted by strong economic data from the United States and China, and an easing in bond yields after a month of rapid gains. [MKTS/GLOB]

(Reporting by Devik Jain in Bengaluru, Editing by Sherry Jacob-Phillips, Uttaresh.V and Barbara Lewis)