U.K. stocks advanced on Monday, with resource stocks leading the surge after U.S. President Joe Biden said he was weighing cutting tariffs on Chinese goods.
“I am considering it. We did not impose any of those tariffs. They were imposed by the last administration and they’re under consideration,” Biden said.
The benchmark FTSE 100 climbed 52 points, or 0.7 percent, to 7,442 after rallying 1.2 percent on Friday.
Anglo American, Glencore, BP Plc and Shell all rose around 2 percent.
Moonpig jumped 8.5 percent after the personalized greeting cards provider agreed to acquire gifting experience firm Buyagift for £124m.
AstraZeneca was marginally higher. The drug major announced that its COVID-19 vaccine, Vaxzevria, has been granted approval in the European Union as a third dose booster in adults.
Self-storage provider Big Yellow Group rallied 2 percent after it has conditionally sold its industrial warehouse scheme in Harrow, England, for 61 million pounds.
Retailer Kingfisher added 2.2 percent after reiterating its profit guidance for FY 22/23.
Britvic Plc, a soft drinks maker, advanced 1.5 percent after it entered into an agreement with Citigroup Global Markets Limited, to buy back up to 26.73 million Britvic shares for around 75 million pounds.
FTSE 100 Rises As Biden Hints At Reducing Tariffs On China
2022-05-23 09:27:53
