FTSE 100 heads for weekly gain amid strengthening miners
Friday’s trade brought a rally in British stocks, backed up by ongoing revenues for metal producers. Furthermore, the market required the highly anticipated American monthly jobs report.
The FTSE 100 traded at 6,160.16, 0.5% gain, with basic materials, gas and oil stocks bringing all sectors higher. That gives green light to the London benchmark, and it’s making its way to the third weekly advance.
Meanwhile, mining shares rebounded, with diamond and copper miner Anglo American PLC +3.3%, thus putting its stocks in line for a 23% weekly leap. Glencore PLC closed +4.7%.
On Thursday, BHP Billiton PLC grabbed 2.6%. The iron ore heavyweight’s credit rating was reduced by a couple of notches at Moody’s Investor Service.
WPP PLC’s stocks also rose, showing one percent hike. The world’s largest marketing company by profit reported 2015 revenue soared notwithstanding strong currency headwinds in the second half of 2015.
Shares of London Stock Exchange Group PLC boasted a 0.2% rally. The exchange operator, currently in merger talks with Deutsche Boerse AG , reported an 85% bounce in full-year revenue in capital markets as well as other areas.