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FTSE 100 Gains As Commodity Stocks Rise

May 20, 2024 — 05:17 am EDT

Written by RTTNews.com for RTTNews

(RTTNews) - U.K. stocks advanced on Monday as higher commodity prices lifted mining and energy stocks.

The benchmark FTSE 100 was up 19 points, or 0.2 percent, at 8,439 after losing 0.2 percent on Friday.

Miner Antofagasta rose half a percent and Glencore added 1.3 percent as copper prices surged to record highs in the wake of fresh Chinese stimulus measures to help boost the country's property market.

Oil & gas giant BP Plc climbed 0.8 percent and Shell added half a percent as oil prices rose amid uncertainty in major producing countries.

Shares of Keywords Studios jumped 62 percent after the company said that it is in talks with European private equity company EQT Group over a possible cash offer worth 2,550 pence a share.

British Land fell about 1 percent after selling its stake in the Meadowhall Shopping Centre in Sheffield, U.K. for 360 million pounds to Norges Bank Investment Management.

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