FTSE 100 Marginally Higher As Commodity Stocks Surge

(RTTNews) - U.K. stocks advanced on Monday, with commodity-related stocks leading the surge as China opened its borders for travel for the first time in three years as part of its new policy on COVID-19.

The benchmark FTSE 100 edged up 0.1 percent to 7,708 after closing 0.9 percent higher on Friday.

Anglo American, Antofagasta and Glencore jumped 1-3 percent as base metal prices advanced on hopes of demand recovery in China, the world's second-largest economy.

Oil & gas firm BP Plc added 1.3 percent and Shell rose 1.2 percent, tracking gains in crude oil prices.

Keller Group shares plunged 7 percent. The engineering contractor said it has identified a financial reporting fraud in its Austral Business Unit in Australia.

Vodafone dropped 1 percent. The telecom major has entered into a deal with 4iG Public Limited Company and Corvinus Zrt, a Hungarian state holding firm, to sell Vodafone Magyarország Zrt, for a cash consideration of HUF 660 billion or 1.7 billion euros.

Drug major AstraZeneca lost about 1 percent after it agreed to buy U.S. biotech CinCor Pharma.

Gaming firm Devolver Digital slumped 5.5 percent and Frontier Developments nosedived 40 percent after disappointing trading updates.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


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