The FTSE 100 in London gained on Monday, riding a surge in commodities companies, while Melrose Industries, a jet and auto parts supplier, soared on a contract to sell a subsidiary for $650 million.
As trading resumed following a long holiday weekend to honor Queen Elizabeth’s Platinum Jubilee, the blue-chip index (.FTSE) rose 1.0 percent, while the domestically focused FTSE 250 (.FTMC) rose 1.2 percent.
Miners Rio Tinto and Glencore led the mining sector higher, as copper prices rallied to five-week highs in hopes of stronger demand from China.
Oil majors BP (BP.L), Shell (SHEL.L), and Royal Dutch Shell (RDS.A) were among the top gainers on the FTSE 100 on Monday, tracking a rally in oil prices.
Prime Minister Boris Johnson was due to face a confidence vote called by members of his Conservative Party but is expected to survive.
Johnson was expected to survive the vote, called after a growing number of lawmakers in the governing Conservative Party questioned the British leader’s flagging authority over the “partygate” scandal.
This report’s information was first seen on Reuters; to read more, click this link.
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