FTSE 100 climbs as recovery bets boost mining, energy stocks

  • Reuters
  • Stock Market News
FTSE 100 climbs as recovery bets boost mining, energy stocks
Credit: © Reuters.

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* FTSE 100 up 0.3%, FTSE 250 adds 0.2%

Feb 25 (Reuters) - London's FTSE 100 rose on Thursday, helped by mining and energy stocks that tracked higher commodity prices, while Standard Chartered dropped after its annual profit more than halved due to the impact of the COVID-19 pandemic.

The commodity-heavy FTSE 100 index .FTSE was up 0.3% by 0808 GMT, with mining stocks, including Rio Tinto RIO.L , Anglo American AAL.L , and BHP BHPB.L , gaining between 1.5% and 3.6% on higher metal prices. MET/L

Oil heavyweights BP BP.L and Royal Dutch Shell RDSa.L also provided the biggest boosts, with gains of 1.2% and 0.8%, respectively. O/R

The domestically focused mid-cap FTSE 250 index .FTMC rose 0.2%, led by industrials and consumer discretionary stocks.

Standard Chartered PLC STAN.L fell 3.3% despite restoring its dividend and reaffirming its long-term profit goals. American AAL.L gained 3% as it boosted dividends after strong commodity prices helped the diversified miner recover from coronavirus disruptions suffered in its first half. Serco Group Plc SRP.L rose 8.3% as it reinstated dividends and raised 2021 forecasts, after posting a 20% jump in annual revenue.

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