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

  • Reuters
  • Stock Market News
Energy, mining stocks boost FTSE 100, stronger pound limits gains
Credit: © Reuters.

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* 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 (JO: AMSJ ) AAL.L , BHP Group (JO: BHPJ ) 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. 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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