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FTSE 100 Little Changed; Commodity Stocks Surge On China Data

2024-06-07MyfxbookMyfxbook
U.K. stocks were subdued on Friday but were on track for a weekly gain after a slew of interest rate decisions by major central banks.
FTSE 100 Little Changed; Commodity Stocks Surge On China Data

(RTTNews) - U.K. stocks were subdued on Friday but were on track for a weekly gain after a slew of interest rate decisions by major central banks.

Commodity-related stocks surged after mixed economic data and positive signals from policymakers in China.

The benchmark FTSE 100 was marginally lower at 7,648 after rallying 1.3 percent in the previous session.

Miners Anglo American, Antofagasta and Glencore all rose about 3 percent on news of relaxation of home purchase restrictions in Beijing and Shanghai.

Oil & gas giant BP Plc rose 0.8 percent and rival Shell added 0.9 percent as oil extended gains for a third consecutive session and remained on track to snap a seven-week losing streak.

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