Pushed Higher by Miners, U.K. Shares Advance, Strong Pound Caps Gains
U.K. shares surged higher on Monday, supported by stocks of mining companies. However, a strong Pound weakened the bullish momentum.
The stock benchmark FTSE 100 index rose nearly 0.3%, extending its up moves for a second straight session thanks to a rise in metals prices which pushed miners’ equities higher.
Topping the market, Fresnillo soared more than 5.7%.Other miners were also among top advancers. Particularly, shares of Anglo American added 4.8%, while those of Antofagasta PLC jumped 3.48%. Rio Tinto PLC and Glencore PLC witnessed their stocks climbed 3.76% and 2.06%, respectively.
On the other hand, the Sterling advanced almost 0.5% versus the dollar ahead of the trigger of Brexit negotiations which may come later this month.
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