Supported by Energy and Mining Shares, U.K. Stocks Jump to Near All-time Record High
U.K. stocks rose on Monday on the back of a rise in energy and mining shares. A weak British Pound also supported the country’s equities to march higher after a fourth weekly gain last week.
The FTSE 100 index added 0.3 percent in the first session of the new week following a rise of 0.5 percent in the week ending on May 19th.
A jump in crude oil prices ahead of this week’s OPEC meeting to discuss further production cut boosted shares of oil producers. Indeed, stocks of BP PLC climbed 0.6% while those of Royal Dutch Shell PLC advanced by 0.3 percent.
Mining shares also rose with shares of Anglo American PLC up more than 0.8 percent. Fresnillo PLC and Randgold Resources PLC witnessed their stocks increase 0.88 percent and 0.68 percent, respectively.
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