FTSE 100 Advances As Oil Drops; Miners Move Up
(RTTNews) - The U.K. stock market's benchmark index FTSE 100 climbed higher Friday morning, supported by gains in mining and technology sectors. Lower crude oil prices and bond yields amid easing tensions about U.S.-Iran conflict lifted sentiment.
Oil prices dropped after U.S. President Donald Trump said the U.S. will not attack Iran before the midterm elections and added that discussions with Tehran "remain productive."
Brent crude front-month futures were down 1.31 or 1.26% at $102.97 a barrel, recovering from a low of $102.33.
The FTSE 100 was down 87.34 points or 0.84% at 10,528.94 a little before noon.
Miners Antofagasta, Fresnillo and Glencore moved up 3.9%, 3.3% and 3.1%, respectively. Anglo American Plc climbed 2.9% and Endeavour Mining advanced 2.3%, while Rio Tinto gained nearly 1.5%.
The Sage Group gained 4.2%. Relx moved up 4.1% and Experian advanced 3.7%. 3i Group, Weir, Convatec Group, ICG, LSEG, Croda International, Howden Joinery Group, St. James's Place, Computacenter, IMI and Smith & Nephew gained 2%-3%.
Haleon, Halma, GSK, Next, Informa, Diageo, Marks & Spencer, Aberdeen Group, British Land and Burberry Group also posted strong gains.
Airtel Africa dropped 5.4%. Vodafone Group drifted lower by 4%. BT Group, IAG, Shell, BP, Ithaca Energy and Centrica drifted modestly lower.
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