FTSE 100 is powered by commodity producers
On Wednesday, British stocks surged, as market participants were looking forward to upbeat data and the upcoming UK’s budget for this year.
The FTSE 100 traded at 6,165.65, a 0.4% soar, with revenues for commodity shares, that demonstrated lower results during the previous session. On Tuesday, the index traded -0.6%, the first loss in two days.
As for top profit takers, we should mention copper producers Glencore PC and Anglo American PLC. They both showed +2.7%. Then, oil producer BP PLC gained 1.9% amid growing oil.
BHP Billiton PLC stocks grew 1%. By the way, its executive told that the iron ore heavyweight is currently looking forward to acquisitions of petroleum as well as copper assets in an attempt to revive revenues, in addition to cost-cutting.
Antofagasta PLC showed -0.9%, thus contributing to Tuesday’s 4.5% dip, right after the copper miner decided to stay away from paying a final dividend.
Besides, Deutsche the Börse AG as well as London Stock Exchange Group PLC came to compromise as for an all-share merger, thus creating the EU’s biggest securities-markets operator with a $30 billion capitalization.