Mining sector drives big rally for FTSE 100 as gold and other metals surge

By Steve Goldstein

U.K. stocks surged on Monday, buoyed by a rally for the mining sector as metals futures jumped.

The FTSE 100 /zigman2/quotes/210598409/delayed UK:UKX -0.31% rose 2.6%, its best single day of gains since the 4.7% surge after U.S. drug company Pfizer first announced the effectiveness of its coronavirus vaccine.

Mining giant Rio Tinto /zigman2/quotes/208934945/delayed UK:RIO -0.41% had the largest upward pull on the FTSE 100, as miners including Polymetal International /zigman2/quotes/204469675/delayed UK:POLY -0.83% , Fresnillo /zigman2/quotes/201300065/delayed UK:FRES -3.15% , Glencore /zigman2/quotes/201400686/delayed UK:GLEN -1.15% and Anglo American /zigman2/quotes/201381512/delayed UK:AAL +0.92% all surged with commodity prices in demand. The dollar fell to its lowest level since April 2018, and there were big gains for gold , copper /zigman2/quotes/210054311/delayed HG00 +3.05% , silver /zigman2/quotes/210315219/delayed SI00 -0.65% and platinum /zigman2/quotes/210261555/delayed PL00 -0.18% .

The gains for commodities came on hopes for the global economy. The U.K. on Monday become the first nation to inoculate with the vaccine made by drug company AstraZeneca /zigman2/quotes/203048482/delayed UK:AZN +0.01% , which also posted strong gains.

U.S. stock futures /zigman2/quotes/209948968/delayed ES00 +1.99% also gained ground on the first trading day of 2021.

U.K. banks including Natwest Group /zigman2/quotes/209265718/delayed UK:NWG +0.80% and home builders such as Taylor Wimpey /zigman2/quotes/208623755/delayed UK:TW -0.93% slipped, a sign traders were less optimistic about companies more exposed to the U.K. economy than the global one.

Shares of U.K. gaming company Entain /zigman2/quotes/207493593/delayed UK:ENT -3.35% jumped 27% to 1,429 pence, after rejecting the proposed 1,383 pence per share bid from MGM Resorts /zigman2/quotes/209932643/composite MGM -0.40% that valued the company at £8.09 billion. Entain, the owner of brands including Ladbrokes, said the proposal significantly undervalues the company and its prospects. Entain also asked for “additional information in respect of the strategic rationale for a combination of the two companies.”

/zigman2/quotes/210598409/delayed

Add to watchlist UK:UKX

FTSE 100 Index

UK : FTSE UK

6,630.52

-20.36 -0.31%

Volume: 997,627

March 5, 2021 4:59p

/zigman2/quotes/208934945/delayed

Add to watchlist UK:RIO

Rio Tinto PLC

UK : U.K.: London

5,854.00 p

-24.00 -0.41%

Volume: 2.47M

March 5, 2021 4:35p

P/E Ratio

12.59

Dividend Yield

6.98%

Market Cap

£98.42 billion

Rev. per Employee

£732,787

/zigman2/quotes/204469675/delayed

Add to watchlist UK:POLY

Polymetal International PLC

UK : U.K.: London

1,442.50 p

-12.00 -0.83%

Volume: 1.46M

March 5, 2021 4:35p

P/E Ratio

0.12

Dividend Yield

6.47%

Market Cap

£6.86 billion

Rev. per Employee

N/A

/zigman2/quotes/201300065/delayed

Add to watchlist UK:FRES

Fresnillo PLC

UK : U.K.: London

886.20 p

-28.80 -3.15%

Volume: 1.90M

March 5, 2021 4:35p

P/E Ratio

22.65

Dividend Yield

2.11%

Market Cap

£6.74 billion

Rev. per Employee

N/A

/zigman2/quotes/201400686/delayed

Add to watchlist UK:GLEN

Glencore PLC

UK : U.K.: London

283.00 p

-3.30 -1.15%

Volume: 31.59M

March 5, 2021 4:35p

P/E Ratio

N/A

Dividend Yield

3.07%

Market Cap

£38.15 billion

Rev. per Employee

N/A

/zigman2/quotes/201381512/delayed

Add to watchlist UK:AAL

Anglo American PLC

UK : U.K.: London

2,913.50 p

+26.50 +0.92%

Volume: 3.31M

March 5, 2021 4:35p

P/E Ratio

22.63

Dividend Yield

2.48%

Market Cap

£35.63 billion

Rev. per Employee

N/A

/zigman2/quotes/210054311/delayed

Add to watchlist HG00

Copper Continuous Contract

US : U.S.: Nymex

$ 4.10

+0.12 +3.05%

Volume: 127,782

March 5, 2021 4:59p

/zigman2/quotes/210315219/delayed

Add to watchlist SI00

Silver Continuous Contract

US : U.S.: Nymex

$ 25.30

-0.17 -0.65%

Volume: 78,031

March 5, 2021 4:59p

/zigman2/quotes/210261555/delayed

Add to watchlist PL00

Platinum Continuous Contract

US : U.S.: Nymex

$ 1,133.30

-2.00 -0.18%

Volume: 17,206

March 5, 2021 4:59p

/zigman2/quotes/203048482/delayed

Add to watchlist UK:AZN

AstraZeneca PLC

UK : U.K.: London

6,858.00 p

+1.00 +0.01%

Volume: 2.42M

March 5, 2021 4:35p

P/E Ratio

36.20

Dividend Yield

3.02%

Market Cap

£90.01 billion

Rev. per Employee

£272,751

/zigman2/quotes/209948968/delayed

Add to watchlist ES00

E-Mini S&P 500 Future Continuous Contract

US : U.S.: CME

$ 3,840.50

+74.90 +1.99%

Volume: 2.86M

March 5, 2021 4:00p

/zigman2/quotes/209265718/delayed

Add to watchlist UK:NWG

NatWest Group PLC

UK : U.K.: London

£ 188.05

+1.50 +0.80%

Volume: 16.36M

March 5, 2021 4:35p

P/E Ratio

N/A

Dividend Yield

0.02%

Market Cap

£22.60 billion

Rev. per Employee

£237,730

/zigman2/quotes/208623755/delayed

Add to watchlist UK:TW

Taylor Wimpey PLC

UK : U.K.: London

170.90 p

-1.60 -0.93%

Volume: 9.73M

March 5, 2021 4:35p

P/E Ratio

29.16

Dividend Yield

2.42%

Market Cap

£6.27 billion

Rev. per Employee

N/A

/zigman2/quotes/207493593/delayed

Add to watchlist UK:ENT

Entain PLC

UK : U.K.: London

£ 1,415.00

-49.00 -3.35%

Volume: 2.39M

March 5, 2021 4:35p

P/E Ratio

144.39

Dividend Yield

N/A

Market Cap

£8.57 billion

Rev. per Employee

N/A

/zigman2/quotes/209932643/composite

Add to watchlist MGM

MGM Resorts International

US : U.S.: NYSE

$ 37.14

-0.15 -0.40%

Volume: 10.84M

March 5, 2021 4:00p

P/E Ratio

N/A

Dividend Yield

0.03%

Market Cap

$18.45 billion

Rev. per Employee

$122,907