Bank Stocks Gain, Lift FTSE 100; Miners Lose Ground As Metal Prices Drop
(RTTNews) - Despite weakness in the mining sector due to weak metal prices, the U.K. stock market is up in positive territory on Monday thanks to some strong buying in financials sector.
The benchmark FTSE 100 was up 31.70 points or 0.3% at 10,478.05 a few minutes before noon.
Natwest Group is rising 4.7%. On Friday, the lender reported higher fourth-quarter profit, supported by strong growth in total income despite a rise in impairment losses and tax charges.
Barclays is gaining 2.3% and Standard Chartered is up 1.8%, while HSBC Holdings is up 1.7% and Lloyds Banking Group is advancing by 1.15%.
Babcock International (up 3.7%), Melrose Industries (up 3.6%), BAE Systems (up 2.8%) and Metlen Energy & Metals (up 2.5%) are among the other major gainers.
Prudential, Easyjet, Airtel Africa, ICG, LSEG, Autotrader Group and 3i Group are also up with strong gains.
Miners Glencore and Rio Tinto are down nearly 2%. Anglo American Plc, Fresnillo and Antofagasta are lower by 1%-1.1%.
BT Group, Croda International, Associated British Foods, The Sage Group, Relx, Imperial Brands, SSE, Berkeley Group Holdings, Barratt Redrow and Mondi are down 1%-3.3%.
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