Mining, healthcare stocks boost FTSE 100 as economy strengthens

(For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window)

* FTSE 100 up 0.3%, FTSE 250 rises 0.3%

June 11 (Reuters) - London's FTSE 100 index edged higher on Friday, helped by gains in mining and healthcare stocks, while a record annual jump in domestic economic output in April strengthened views of a stronger recovery from the pandemic-driven disruption last year.

The blue-chip index .FTSE rose 0.3%, with precious metal miners .FTNMX551030 and base metal miners .FTNMX551020 jumping 2% and 1.4%, respectively.

Pharmaceutical stocks .FTNMX201030 also rose, with AstraZeneca AZN.L leading the gains.

The domestically focused mid-cap FTSE 250 index .FTMC advanced 0.3%.

The UK economy in April was a record 27.6% larger than 12 months before, official data showed, an increase that reflects recent reopening and the scale of disruption to everyday life early in the COVID-19 pandemic. In April alone, output rose by 2.3%, marking the fastest growth since July.

Among other stocks, Sanne Group SNNS.L jumped 11.5% as the asset management services provider said it was in talks with Cinven after the private-equity firm made a sweetened offer of 875 pence per share to buy the company.
Reporting by Devik Jain in Bengaluru; editing by Uttaresh.V

Disclaimer: The XM Group entities provide execution-only service and access to our Online Trading Facility, permitting a person to view and/or use the content available on or via the website, is not intended to change or expand on this, nor does it change or expand on this. Such access and use are always subject to: (i) Terms and Conditions; (ii) Risk Warnings; and (iii) Full Disclaimer. Such content is therefore provided as no more than general information. Particularly, please be aware that the contents of our Online Trading Facility are neither a solicitation, nor an offer to enter any transactions on the financial markets. Trading on any financial market involves a significant level of risk to your capital.

All material published on our Online Trading Facility is intended for educational/informational purposes only, and does not contain – nor should it be considered as containing – financial, investment tax or trading advice and recommendations; or a record of our trading prices; or an offer of, or solicitation for, a transaction in any financial instruments; or unsolicited financial promotions to you.

Any third-party content, as well as content prepared by XM, such as: opinions, news, research, analyses, prices and other information or links to third-party sites contained on this website are provided on an “as-is” basis, as general market commentary, and do not constitute investment advice. To the extent that any content is construed as investment research, you must note and accept that the content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, it would be considered as marketing communication under the relevant laws and regulations. Please ensure that you have read and understood our Notification on Non-Independent Investment. Research and Risk Warning concerning the foregoing information, which can be accessed here.

We are using cookies to give you the best experience on our website. Read more or change your cookie settings.

Risk Warning: Your capital is at risk. Leveraged products may not be suitable for everyone. Please consider our Risk Disclosure.