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Commodity, bank stocks lift UK shares higher ahead of budget

Published 03/03/2021, 09:20
Updated 03/03/2021, 09:24
© Reuters.
UK100
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HSBA
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BP
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PRU
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RDSa
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RIO
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AAL
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BHPB
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PSN
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STAN
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FTMC
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POLYP
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(For a Reuters live blog on U.S., UK and European stock
markets, click LIVE/ or type LIVE/ in a news window)
* FTSE 100 up 1.0%, FTSE 250 adds 0.6%

March 3 (Reuters) - British shares rose on Wednesday, buoyed
by gains in commodity and banking stocks, while investors
awaited Finance Minister Rishi Sunak's budget plan as the
country tries to recover from a coronavirus-inflicted economic
shock.
The blue-chip FTSE 100 index .FTSE rose 1.0%, with mining
stocks including Rio Tinto RIO.L , Anglo American AAL.L and
BHP BHPB.L gaining between 1% and 1.6%. OR
Banking stocks, mainly HSBC Holdings Plc HSBA.L ,
Prudential Plc PRU.L and Standard Chartered Plc STAN.L were
among the biggest boost to the index, followed by oil
heavyweights BP BP.L and Royal Dutch Shell RDSa.L .
Sunak will promise to do "whatever it takes", including a
five-month extension of Britain's huge jobs rescue plan, to
steer the economy through what he hopes will be the final months
of COVID-19 restrictions. The domestically focused mid-cap FTSE 250 index .FTMC rose
0.6%, led by industrials stocks.
Polymetal POLYP.L , one of Russia's largest gold and
silver producers, rose 4.3%, after posting a record high net
earnings of $1.1 billion in 2020 on stronger global prices for
precious metals. Britain's second-largest homebuilder, Persimmon PSN.L ,
fell 0.6%, as it reported a 25% slump in annual pre-tax profit.

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