U.K. stocks rose notably on Wednesday, as commodity-related stocks surged on optimism over a demand revival in China following this week’s announcement that strict quarantine requirements for arriving travelers will be dropped early next month.
The benchmark FTSE 100 was up 52 points, or 0.7 percent, at 7,522 as trading resumed after a long holiday weekend.
Higher copper prices boosted miners, with Anglo American, Antofagasta and Glencore climbing 1-2 percent.
Oil and gas firm BP Plc rallied 2.2 percent and Shell added 1 percent as oil prices remained supported by news that Russia aims to ban oil sales from Feb. 1 to countries that abide by a G7 price cap imposed on Dec. 5.
Financials exposed to China rose, with HSBC Holdings and Prudential both rising around 2 percent.
AstraZeneca edged down slightly. The drug major announced that its immunotherapies Imfinzi (durvalumab) and Imjudo (tremelimumab) have been approved in Japan for the treatment of three cancer types.
FTSE 100 Gains Led By Commodity-related Stocks
2022-12-28 09:31:54
