UK’s FTSE 100 rose in early trade on Thursday as higher crude oil prices lifted energy giants and higher base metals and iron ore prices lifted miners, while investors braced for more economic data due later in the day.
By 0808 GMT, the exporter-heavy FTSE 100 rose 0.1%, while the FTSE 250 midcap index lost 0.2%.
Industrial metal miners led gains early on, rising 1% as prices of most base metals and iron ore advanced, while oil and gas edged up 0.6% as crude prices gained ahead of expected production cuts by the OPEC+ group.
The domestically focussed midcap and the FTSE Small Cap index eyed sharp monthly gains as the pound rallied against the dollar this month, while the blue-chip FTSE 100 was set for marginal gains.
UK’s FTSE 100 dips on miners, energy drag
The focus would remain on a personal consumption expenditures (PCE) report in the United States due later in the day.
NatWest Group added 1.8% after J.P. Morgan upgraded the bank’s stock to “overweight” from “neutral”.
Dr Martens slumped 22.5% after the bootmaker forecast its annual revenue to decline and profit to be below market expectations.
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