FTSE 100 rises on mining, oil boost; Tesco drops in ex-dividend trading
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* Recruiter Hays jumps on higher fee earnings
* Dunelm Group gains on strong rise in sales
* Ashmore slips as AUM drops by $3.1 billion
* FTSE 100 up 0.9%, FTSE 250 adds 1.0% (Updates to close)
By Shashank Nayar and Bansari Mayur Kamdar
Oct 14 (Reuters) - London's FTSE 100 rose to a two-month high on Thursday, boosted by heavyweight oil and mining stocks, while retailer Tesco was the top drag as its shares traded ex-dividend.
The blue-chip FTSE 100 index .FTSE climbed 0.9% and recorded its best session in a week, with miners Antofagasta ANTO.L , Rio Tinto RIO.L and Glencore GLEN.L among the top performers.
Oil majors BP BP.L and Royal Dutch Shell RDSa.L gained 0.8% and 1.4%, respectively tracking over 1% jump in crude prices.
Industrial miners .FTNMX551020 and oil stocks .FTNMX601010 are the top performing sub-indexes so far this year, adding 28% and 37%, respectively.
The mining index has surged over 200% since their March 2020 lows on recovering metal demand as economies re-opened from pandemic-led lockdowns.
"On a broader basis, a slowdown in the global economic recovery could easily trigger a pullback in commodity prices in the near-term, but for today it seems that investors are very much risk-on," said Russ Mould, investment director at AJ Bell.
The FTSE 100 has gained 11.6% so far this year but the pace has slowed on bets that rising inflation pressures will lead central banks to pull back their accommodative monetary policies.
Bank of England policymaker Silvana Tenreyro said the central bank should not raise interest rates to tackle a surge in inflation caused by higher prices for energy and semi-conductors if it thinks these effects will be short-lived.
The domestically focussed mid-cap index .FTMC advanced 1.0%, with recruiter Hays Plc HAYS.L among the top gainers. The stock rose 3.0% after the company reported a jump in its quarterly net fees.
Dunelm Group Plc DNLM.L rose -0.2% after reporting a strong rise in sales despite an uncertain outlook for the coming year.
Ashmore Group ASHM.L fell 0.1% after its assets under management fell by $3.1 billion during the third quarter of 2021 on emerging market woes and institutional outflows.
Miners UK Markets Link
Reporting by Bansari Mayur Kamdar and Amal S; Editing by
Subhranshu Sahu and Sriraj Kalluvila
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