FTSE 100 Advances As Energy, Mining Stocks Climb Higher
(RTTNews) - After showing weakness in the previous two sessions, U.K. stock market's benchmark index FTSE 100 climbed higher Friday morning, riding on strong gains in energy and mining sectors.
Investors looked ahead to U.S. non-farm payroll data for clues about the Federal Reserve's monetary policy moves.
The FTSE 100 was up 45.96 points or 0.46% at 10,090.65 a little while ago.
Glencore soared nearly 10%. Glencore and Rio Tinto have confirmed they are in preliminary discussions on a possible combination of some or all of their businesses, which could include an all-share merger between them. Rio Tinto slipped 6% before regaining some lost ground, but was still down by as much as 3% a little while ago.
Antofagasta, Fresnillo and Anglo American Plc surged 3.5%, 3.2% and 2.9%, respectively. Endeavour Mining shed about 2.5%.
Energy stocks Shell and BP climbed 2.3% and 2.2%, respectively.
Marks & Spencer moved up 2.7%, Auto Trader Group gained about 2.5%, while Weir Group, Diageo, BAE Systems, Entain, Centrica, Polar Capital Technology Trust, Associated British Foods, Mondi, Unilever, Bunzl and IMI advanced by 1 to 2%.
Sainsbury (J) drifted down more than 5%. The U.K.'s second-largest supermarket chain reported a fall in sales at its Argos chain over the all-important Christmas quarter.
IAG, Berkeley Group Holdings, Tesco, Aviva, United Utilities, Vodafone Group, British Land and Imperial Brands lost 0.8 to 2%.
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