FTSE 100 goes up amid growing miners
On Tuesday, British shares went up, as commodity stocks managed to climb up, notwithstanding dropping oil as well as concerns regarding the Fed’s interest rate hikes persisted.
The FTSE 100 surged 0.3%, being worth 6,156.98 right after opening in the red. On Monday, the London benchmark lost 0.3%, as energy stocks were brought down along with dipping crude prices.
Crude prices were going down again early on Tuesday, however, stocks of energy majors had enough strength to surge. For instance, BP PLC gained 0.4%, Royal Dutch Shell PLC acquired 0.2%.
Earlier on Tuesday, mining stocks lost ground, as market participants worried regarding the overall prospect of an upcoming US interest rate surge in coming months, which could bring higher borrowing costs for emerging markets. However, some stocks dared to soar with Antofagasta PLC gaining 0.5%, Anglo American PLC up 0.6%. As for Rio Tinto PLC, previously informing of a new head of innovation and technology, acquired 0.5%.