London stocks rise at open on energy, mining boost
equities rose at the open on Tuesday as commodity-linked stocks such as miners and energy tracked gains in oil and metal prices, while PZ Cussons fell after the soap maker issued a profit warning.
London stocks
LONDON: British equities rose at the open on Tuesday as commodity-linked stocks such as miners and energy tracked gains in oil and metal prices, while PZ Cussons fell after the soap maker issued a profit warning.
By 0706 GMT, both the blue-chip FTSE 100 and the more domestically-focussed FTSE 250 midcap index were up 0.5%. Industrial metal miners added 2.3% as copper prices edged higher.
Heavyweight energy stocks rose 0.6% as oil prices edged higher on worries about political instability in Russia and possible supply disruptions and U.S. demand hopes. China's Premier Li Qiang told delegates that the country's economic growth in the second quarter will be higher than the first and is expected to reach the annual economic growth target of around 5%
China-exposed banks HSBC and Standard Chartered added 1.0% and 1.6%, respectively, while insurer Prudential gained 2.0%. PZ Cussons fell 5.9% after the soap maker said that devaluation of the Nigerian currency naira would adversely impact its profit next year..
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