Commodity-linked stocks push FTSE 100 higher

  • 8/24/2021
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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 0.2%, FTSE 250 adds 0.3% Aug 24 (Reuters) - London’s FTSE 100 rose on Tuesday, led by heavyweight miners, while a recent rise in coronavirus infections and slower global economic growth eased some worries that central banks could taper asset purchases sooner than expected. The FTSE 100 index climbed 0.2% and was headed for a third consecutive session of gains. Industrial metal miners and oil stocks led the gains, rising 1.2% and 0.6% respectively. The domestically focussed mid-cap index added 0.3% with travel stocks being among the top boosts. Among stocks, BHP Group rose 1.4% even after S&P Global said the miner was at risk of a two notch downgrade that would provoke its lowest ever credit rating as the sale of its petroleum business raises the miner’s dependence on its major business of iron ore. Wood Plc dropped 2% after the engineering and consultancy firm forecast lower annual revenue and reported a 14.1% fall in first-half profit. (Reporting by Shashank Nayar in Bengaluru; Editing by Subhranshu Sahu) Our Standards: The Thomson Reuters Trust Principles.

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