FTSE 100 Extends Gains On Economic Optimism

U.K. stocks rose on Friday to extend gains from the previous session after the Bank of England kept its monetary policy ultra-loose.

The benchmark FTSE 100 inched up 6 points to 7,116 as higher commodity prices helped lift shares of miners and energy companies. The index rose half a percent the previous day.

Mining giant BHP rose about 1 percent and Rio Tinto added half a percent.

In the oil & gas sector, BP Plc advanced 1.2 percent and Royal Dutch Shell gained 1 percent.

Building materials business CRH rallied 2.3 percent after a brokerage upgrade.

Travel-related stocks slipped, with EasyJet falling 1 percent and Ryanair Holdings down half a percent.

The U.K. is set to publish plans next month to lift travel restrictions for fully vaccinated people except those with the highest COVID-19 risk level.

UDG Healthcare advanced 1.2 percent. The company, which is in deal to be taken over by Nenelite Ltd., said its board was informed that Nenelite is considering an improved and final offer of 1,080 pence per UDG Share.

Subprime lender Amigo jumped 6.8 percent on news it has secured a three-month extension to a funding line.

In economic releases, U.K. consumer sentiment remained unchanged in June, survey results from market research group GfK showed.

The consumer confidence index held steady at -9.0 in June, while it was forecast to rise to -7.0. “A repetition of last month’s score doesn’t mean confidence is about to nose-dive,” Joe Staton, client strategy director at GfK, said.