Bulletin
Investor Alert

New York Markets Open in:

London Markets Archives | Email alerts

Aug. 8, 2016, 11:57 a.m. EDT

FTSE 100 closes at best level in more than a year

Commodities stocks, Barclays among the day’s winners

new
Watchlist Relevance
LEARN MORE

Want to see how this story relates to your watchlist?

Just add items to create a watchlist now:

  • X
    FTSE 100 Index (UKX)
  • X
    BHP Group Ltd. ADR (BHP)

or Cancel Already have a watchlist? Log In

By Carla Mozee and Victor Reklaitis, MarketWatch


Shutterstock.com

U.K. stocks closed with small gains Monday, but enough to log the best gains for the benchmark in more than a year, aided by advances in commodity shares.

The FTSE 100 /zigman2/quotes/210598409/delayed UK:UKX -0.24%  rose by 0.2% to end at 6,809.13. The blue-chip gauge scored its highest close since June 2015, according to FactSet data.

The index has climbed for three sessions in a row, moving up on Friday by 0.8%. Equities have been getting a lift from an aggressive monetary-stimulus package from the Bank of England and from better-than-expected U.S. jobs data last week.

“An uneventful start to the week means that markets are still searching for fresh drivers, but for now the [U.S.] nonfarm payrolls, which were encouraging on both the jobs and wages fronts, are sufficient unto the day,” said Chris Beauchamp, senior market analyst at IG, in a note.

Miners upbeat: Mining shares appeared to shrug off downbeat economic data from China, a key consumer of precious and industrial metals. Iron-ore producer BHP Billiton PLC   /zigman2/quotes/208108397/composite BHP -0.70%   /zigman2/quotes/201448516/delayed AU:BHP +1.31%  gained 3.3%, and platinum and copper producer Anglo American PLC /zigman2/quotes/201381512/delayed UK:AAL +0.86%  rose 1.8%. Copper company Antofagasta PLC  /zigman2/quotes/200173667/delayed UK:ANTO +1.60%  picked up 3.3% as copper futures  rose.

The moves came after the release of July trade data from China on Monday. Exports slid 4.4% from a year earlier, suggesting overseas shipments are dragging on the world’s second-largest economy. Exports were expected to drop 3.6%, according to a Wall Street Journal poll of analysts. Imports last month fell 12.5%, more than an estimated 8.9% decline.

“Today’s trade data disappointed, with stronger manufacturing activity among many of China’s key trading partners failing to lift export growth and import growth falling on the back of the renewed drop in global commodity prices,” said Julian Evans-Pritchard, China economist at Capital Economics, in a note.

But looking ahead, “we are not overly concerned about the immediate prospects for China, despite today’s disappointing data,” he wrote. “While we think the worst is probably over for many markets, global growth is likely to remain lackluster well into next year.”

Oil: Meanwhile, energy shares stepped higher as oil futures /zigman2/quotes/209726633/delayed CLU26 0.00%  jumped more than 2%. The rise in crude futures came after reports that several members of the Organization of the Petroleum Exporting Countries are pushing for a deal to freeze production to boost prices. OPEC will hold informal talks at an energy conference in September.

Shares of oil major BP PLC   /zigman2/quotes/207305210/composite BP -2.00%  gained 0.7%, while Royal Dutch Shell PLC /zigman2/quotes/204253697/delayed UK:RDSB -0.55%   /zigman2/quotes/207682964/composite RDS.B -1.50%  shares tacked on 1%.

Click to Play

How to find funds that offer safety and income

Investors should have low-cost, diversified bond funds in their portfolios and not stretch for yield, says Kathy Jones of Charles Schwab.

Movers: Other movers on Monday included Barclays PLC /zigman2/quotes/208409333/delayed UK:BARC -2.53% , with shares of the lender up 3.6% following reports of a ratings upgrade at Exane BNP Paribas.

On the downside, Hikma Pharmaceuticals PLC /zigman2/quotes/204872832/delayed UK:HIK +0.61%  fell 4.2%, and drugmaker Shire PLC  lost 2.2%.

The pound /zigman2/quotes/210561263/realtime/sampled GBPUSD +0.1079%  traded at $1.3039 compared with $1.3079 late Friday in New York.

/zigman2/quotes/210598409/delayed
UK : FTSE UK
6,035.15
-14.77 -0.24%
Volume: 403,213
Sept. 18, 2020 11:08a
loading...
/zigman2/quotes/208108397/composite
US : U.S.: NYSE
$ 55.49
-0.39 -0.70%
Volume: 3.74M
Sept. 17, 2020 4:00p
P/E Ratio
17.69
Dividend Yield
4.33%
Market Cap
$131.47 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/201448516/delayed
AU : Australia: Sydney
$ 37.80
+0.49 +1.31%
Volume: 14.65M
Sept. 18, 2020 4:10p
P/E Ratio
16.22
Dividend Yield
4.63%
Market Cap
$179.32 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/201381512/delayed
UK : U.K.: London
1,986.00 p
+17.00 +0.86%
Volume: 1.45M
Sept. 18, 2020 11:07a
P/E Ratio
14.86
Dividend Yield
2.91%
Market Cap
£24.47 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/200173667/delayed
UK : U.K.: London
1,108.50 p
+17.50 +1.60%
Volume: 496,656
Sept. 18, 2020 11:07a
P/E Ratio
41.16
Dividend Yield
0.92%
Market Cap
£10.94 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/209726633/delayed
US : U.S.: Nymex
$ 49.69
0.00 0.00%
Volume: 0.00
Sept. 17, 2020 5:07p
loading...
/zigman2/quotes/207305210/composite
US : U.S.: NYSE
$ 19.56
-0.40 -2.00%
Volume: 15.84M
Sept. 17, 2020 4:01p
P/E Ratio
N/A
Dividend Yield
11.09%
Market Cap
$66.89 billion
Rev. per Employee
$4.03M
loading...
/zigman2/quotes/204253697/delayed
UK : U.K.: London
£ 1,005.80
-5.60 -0.55%
Volume: 3.32M
Sept. 18, 2020 11:08a
P/E Ratio
N/A
Dividend Yield
0.05%
Market Cap
£81.72 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/207682964/composite
US : U.S.: NYSE
$ 26.33
-0.40 -1.50%
Volume: 4.03M
Sept. 17, 2020 4:00p
P/E Ratio
N/A
Dividend Yield
9.57%
Market Cap
$106.25 billion
Rev. per Employee
$4.75M
loading...
/zigman2/quotes/208409333/delayed
UK : U.K.: London
98.00 p
-2.54 -2.53%
Volume: 23.66M
Sept. 18, 2020 11:08a
P/E Ratio
N/A
Dividend Yield
0.00%
Market Cap
£17.85 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/204872832/delayed
UK : U.K.: London
2,655.00 p
+16.00 +0.61%
Volume: 163,503
Sept. 18, 2020 11:07a
P/E Ratio
15.83
Dividend Yield
1.34%
Market Cap
£6.06 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/210561263/realtime/sampled
US : Tullett Prebon
1.2988
+0.0014 +0.1079%
Volume: 0.0000
Sept. 18, 2020 6:23a
loading...

Carla Mozée is a reporter for MarketWatch, based in London. Follow her on Twitter @MWMozee. Victor Reklaitis is a London-based markets writer for MarketWatch. Follow him on Twitter @VicRek.

Get news alerts on British Pound — or create your own.
This Story has 0 Comments
Be the first to comment
More News In
Markets

Story Conversation

Commenting FAQs »

Partner Center

World News from MarketWatch

Link to MarketWatch's Slice.