UK’s exporter-heavy FTSE 100 hit a more than three-year high on Monday, led by commodity-linked stocks as China’s reopening of its borders reinforced hopes for a rebound in the world’s second-largest economy.
The blue-chip FTSE 100 gained 0.2% by 0822 GMT, hitting its highest since July 30, 2019, while the more domestically focused FTSE 250 mid-cap index rose 0.2%.
Industrial metal miners gained 1.4%, while oil majors Shell and BP also advanced as oil prices climbed on China demand prospects.
Game developer Frontier Developments crashed 42.4% after downgrading its 2023 guidance.
Devolver Digital, another gaming stock, slumped 9.4% after the company reported weaker-than-forecast sales volumes for December and a lower-than-expected performance for the second half of 2022 financial year.