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Energy, mining stocks boost FTSE 100, stronger pound limits gains

Published 10/05/2021, 08:28
Updated 10/05/2021, 08:30
© Reuters.

(For a Reuters live blog on U.S., UK and European stock
markets, click LIVE/ or type LIVE/ in a news window)
* Both FTSE 100, FTSE 250 add 0.1%

May 10 (Reuters) - London's FTSE 100 edged higher on Monday,
led by heavyweight commodity stocks, although gains were limited
as the pound strengthened and investors awaited new government
plans for easing COVID-19 lockdowns.
The blue-chip index .FTSE rose 0.1%, with miners mainly
Anglo American AAL.L , BHP Group BHPB.L and Rio Tinto RIO.L
providing the biggest boost as copper prices touched record
highs on hopes for improved demand amid tightening supply.
MET/L
Oil majors BP BP.L and Royal Dutch Shell RDSa.L added 1%
each, tracking crude prices. O/R
However, the FTSE 100 index's gains were limited as large
dollar-earning consumer staples companies including Unilever
ULVR.L and Diageo DGE.L slipped due to a stronger pound.
GBP=
Prime Minister Boris Johnson will hold a press conference
later in the day about how the country will move into the next
phase of reopening from the COVID-19 lockdown.
The domestically focussed mid-cap FTSE 250 index .FTMC
advanced 0.1% to touch a record high, with bakery and fast food
chain Greggs GRG.L surging 7.5% after raising its profit
outlook.

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