London’s main market edged up by lunch time today, pulled higher by blue-chips Rolls-Royce and BA owner IAG

The FTSE 100 turned positive by midday, up 0.15 per cent to 6,947 points.

Meanwhile the pound was up 0.2 per cent against the dollar to remain above $1.39

Shares of Pearson also jumped on an upbeat first-quarter earnings update, which saw the company post a five per cent rise in underlying revenue growth in the first quarter of 2021, thanks to strong demand for online learning courses.

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Heavyweight oil majors BP and Royal Dutch Shell fell due to lower crude prices and were among the biggest drags to the index.

The mining index lifted as Chilean miner Antofagasta gained 2.3 per cent after copper prices soared to their highest in over a decade.

Rio Tinto was also up 0.9 per cent today, while Glencore enjoyed a 1.3 per cent boost.

The FTSE 250 index strenghtend 0.4 per cent. The mid-cap index was up by 15.87 points, to 22,468.

US

Across the pond, Dow Futures jumped 0.5 per cent, landing at 33,958. Meanwhile, S&P Futures were up slightly by 0.02 per cent at 4,172. Nasdaq slipped 0.02 per cent, sitting at 13,929.

Oil sank 1.13 per cent to $61.46 a barrel this morning, much to BP and Shell’s dismay. Whereas gold enjoyed a 1.05 per cent increase to 1,776.

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Upbeat start to week

Globally, the mood was upbeat amid concerns over rising cases in parts of Asia ahead of US Federal Reserve’s meeting, series of economic data and earnings reports from U.S. tech heavyweights and big UK banks this week.

“With a data calendar as juicy as this week, Monday morning Covid-19 nerves are likely to be quickly forgotten,” said Jeffery Halley, senior market analyst at OANDA.

The FTSE 100 has gained 7.3 per cent year-to-date as encouraging economic data on the back of speedy Covid-19 vaccinations and constant policy support from the government lifted optimism about a stronger economic recovery.

Goldman Sachs expects Britain to grow by a “striking” 7.8 per cent this year, more than the United States following a nearly 10 per cent slump last year as it was hit by longer coronavirus lockdowns than many of its peers.