British shares rebound on mining, travel stocks boost

07 Oct, 2021

London's FTSE 100 jumped on Thursday, led by gains in travel and heavyweight mining stocks, while recruitment firm Robert Walters rose sharply on strong profit forecasts.

The blue-chip FTSE 100 gained 1% by 0705 GMT, with miners Glencore, Anglo-American and Rio Tinto among the top boosts. Miners added 1.8%, tracking higher metal prices.

Oil major Royal Dutch Shell rose 0.5% after saying it expects significant cash boost in third-quarter revenue due to soaring gas and power prices.

Homebuilder stocks climbed 0.7% after mortgage lender Halifax said British house prices rose by the most in almost 15 years in September.

Inflation worries weigh on FTSE 100; Tesco jumps

The domestically focussed mid-cap index advanced 0.8%, with travel stocks among the top performers.

Shares of online auto retailer Pendragon PLC climbed 4% after reporting a strong third-quarter performance.

Workspace climbed 2% after it said utilisation of its centres by the end of September peaked at 56% of pre-COVID levels mid-week.

British recruitment firm Robert Walters rose 2.6% after it said its annual profit would be ahead of its expectations as it benefits from a hot jobs market.

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