London’s FTSE 100 climbed on Friday afternoon as surging commodity prices provided an uplift for energy and mining stocks.
The capital’s premier index added 0.35 per cent to reach 7,134 in afternoon trading. The FTSE 100 looks set to register a weekly rise.
Today’s gains built on yesterday’s session after investors reacted positively to the Bank of England’s decision to keep monetary policy ultra loose yesterday.
The FTSE 250 mid-cap index added 0.39 per cent, while AIM shares climbed 0.8 per cent this afternoon, aided by diagnostics firm Genedrive PLC surging 13.3 per cent after it received approval to import its SARS-CoV-2 Kit tests into India via a partner.
The pound weakened 0.06 per cent against the dollar to $1.39.
Winners and losers
The day’s biggest winner so far was retailer JD Sports, surging 3.7 per cent after Nike posted better-than-expected results.
Builders’ merchant CRH came in at second, climbing 2.47 per cent. Analysts are more positive on the firm’s future prospects after the US agreed to ramp up infrastructure spending.
Industrial equipment rental company Ashtead Group came third, rising 2.26 per cent.
Bookmaker Flutter Entertainment registered the day’s largest losses so far, dropping 3.31 per cent.
Investment firm M&G PLC Ord was the second worst performer, falling 2.82 per cent, while Vodafone Group came third, down 2.22 per cent.
Around the world
London’s strong performance was extended across the pond, with both the S&P 500 and NASDAQ Composite opening higher.
The US blue-chip index inched up 0.17 per cent in morning trading.
The tech-heavy NASDAQ added 0.19 per cent.
The European focused Stoxx 600 edged up on Friday afternoon.