Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON
  1. Homepage
  2. Indexes
  3. United Kingdom
  4. Great Britain
  5. FTSE 100
  6. News
  7. Summary
    UKX   GB0001383545

FTSE 100

(UKX)
SummaryQuotesChartsNewsHeatmapComponents 
SummaryMost relevantAll NewsOther languagesNews of the index componentsMarketScreener Strategies

Energy, bank stocks drive FTSE 100 higher

02/24/2021 | 12:29pm EDT
A street cleaning operative walks past the London Stock Exchange Group building in the City of London financial district, whilst British stocks tumble as investors fear that the coronavirus outbreak could stall the global economy, in London

(Reuters) - Britain's main stock index recouped early losses to end Wednesday higher, as gains in commodity-linked and banking stocks on investor optimism about a post-pandemic economic recovery outweighed losses in defensive sectors.

After falling as much as 0.8%, the commodity-heavy FTSE 100 index closed up 0.5%, with oil heavyweights BP and Royal Dutch Shell providing the biggest boost with gains of 5.4% and 3.3%, respectively.

Mining stocks including Rio Tinto plc, Anglo American Plc and BHP added between 0.7% and 1.5%, boosted by higher metal prices.

"One of the main drivers for the FTSE over the next few months is going to be investors' interest in a possible commodity super-cycle," said Andrea Cicione, head of strategy at TS Lombard.

"If commodities continued to perform as strongly as they have over the past few months, well that's going to benefit disproportionately."

British bank Barclays jumped 3.4%, while other lenders rose as Bank of England Governor Andrew Bailey said Britain will resist "very firmly" any European Union attempts to arm-twist banks into shifting trillions of euros in derivatives clearing from Britain to the bloc after Brexit.

Defensive plays such consumer staples, healthcare and utilities were among the top laggards.

The domestically focused mid-cap FTSE 250 gained 1.2% and marked its best day over a week, on hopes that speedy vaccination will help ease coronavirus restrictions faster.

In company news, Metro Bank fell 9.9% as it posted a much bigger annual loss and said it expects defaults to rise through the year as government support measures set in place due to the COVID-19 crisis are wound down.

Consumer goods maker Reckitt Benckiser shed 1.5% even as it capped 2020 with the strongest sales in its history, while Aviva slipped 0.5% as it agreed to sell its 40% stake in a joint venture in Turkey for 122 million pounds ($173.2 million).

(Reporting by Shivani Kumaresan and Amal S in Bengaluru; editing by Anil D'Silva and Emelia Sithole-Matarise)

By Shivani Kumaresan and Amal S


© Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
ANGLO AMERICAN PLC 1.59% 3199.5 Delayed Quote.31.97%
BARCLAYS PLC 2.46% 189.18 Delayed Quote.28.97%
BHP GROUP 0.51% 47.57 End-of-day quote.12.11%
EURO / BRITISH POUND (EUR/GBP) -0.07% 0.8657 Delayed Quote.-2.80%
FTSE 100 0.52% 7019.53 Delayed Quote.8.65%
FTSE MID 250 INDEX 0.22% 22522.18 Delayed Quote.9.93%
LONDON BRENT OIL -0.18% 66.7 Delayed Quote.29.19%
ROYAL DUTCH SHELL PLC -1.15% 16.444 Real-time Quote.12.52%
US DOLLAR / TURKISH LIRA (USD/TRY) 0.00% 8.0567 Delayed Quote.7.97%
WTI -0.41% 63.072 Delayed Quote.31.44%
All news about FTSE 100
04/16World stocks at new peaks on strong China, U.S. data
RE
04/16World stocks scale fresh peaks on strong China, U.S. data
RE
04/16European Stocks Close Higher as China GDP Data Helps Lift Sentiment
MT
04/16FTSE : 100 ends second week higher on higher commodity prices, rebound bets
RE
04/16EUROPE : European stocks notch new highs as Daimler earnings lift carmakers
RE
04/16Wall Street Wavers Pre-Bell, Consolidating After Data Boost
MT
04/16European Bourses Eying Fresh Records in Midday Trading
MT
04/16Wall Street Trades Steady in US Pre-Bell Session With Futures Muted; Europe a..
MT
04/16Wall Street Steady Pre-Bell; Futures Muted, Europe Up, Asia Higher
MT
04/16European Fixed Income Update
MT
More news
News of the index components FTSE 100
08:06aASTRAZENECA  : Covid-19 Vaccine - No Diagnosed Case of Blood Clots, No Death Rec..
AQ
08:06aASTRAZENECA  : Covid-19 - Nigeria Crosses 1 Million Vaccination Threshold
AQ
05:45aExpat Americans Fly Home for Covid-19 Vaccination Shots
DJ
04/16ASTRAZENECA  : Quebec to deploy sound trucks in Montreal to announce mobile vacc..
AQ
04/16ASTRAZENECA  : Doctors say lowering age cutoff for AstraZeneca vaccine makes sen..
AQ
04/16READY, SET, GROW : Future-proof your business with cloud-based financials
PU
04/16IAG  : Credit Suisse maintains a Buy rating
MD
More news
Chart FTSE 100
Duration : Period :
FTSE 100 Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends FTSE 100
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Top / Flop FTSE 100
EVRAZ PLC 636.4 Delayed Quote.3.65%
BT GROUP PLC 154.85 Delayed Quote.2.86%
BRITISH AMERICAN TOBACCO PLC 2901 Delayed Quote.2.80%
NEXT PLC 8194 Delayed Quote.2.68%
BARCLAYS PLC 189.18 Delayed Quote.2.46%
BARRATT DEVELOPMENTS PLC 784 Delayed Quote.-1.36%
INTERMEDIATE CAPITAL GROUP PLC 2017 Delayed Quote.-1.61%
HIKMA PHARMACEUTICALS PLC 2367 Delayed Quote.-1.70%
ROLLS-ROYCE HOLDINGS PLC 104.56 Delayed Quote.-2.28%
LONDON STOCK EXCHANGE PLC 7700 Delayed Quote.-2.53%
Heatmap :