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Jan. 4, 2021, 6:00 a.m. EST

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

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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
UK : FTSE UK
6,630.52
-20.36 -0.31%
Volume: 997,627
March 5, 2021 4:59p
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/zigman2/quotes/208934945/delayed
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
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/zigman2/quotes/204469675/delayed
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
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/zigman2/quotes/201300065/delayed
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
loading...
/zigman2/quotes/201400686/delayed
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
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/zigman2/quotes/201381512/delayed
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
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/zigman2/quotes/210054311/delayed
US : U.S.: Nymex
$ 4.10
+0.12 +3.05%
Volume: 127,782
March 5, 2021 4:59p
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/zigman2/quotes/210315219/delayed
US : U.S.: Nymex
$ 25.30
-0.17 -0.65%
Volume: 78,031
March 5, 2021 4:59p
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/zigman2/quotes/210261555/delayed
US : U.S.: Nymex
$ 1,133.30
-2.00 -0.18%
Volume: 17,206
March 5, 2021 4:59p
loading...
/zigman2/quotes/203048482/delayed
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
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/zigman2/quotes/209948968/delayed
US : U.S.: CME
$ 3,840.50
+74.90 +1.99%
Volume: 2.86M
March 5, 2021 4:00p
loading...
/zigman2/quotes/209265718/delayed
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
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/zigman2/quotes/208623755/delayed
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
loading...
/zigman2/quotes/207493593/delayed
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
loading...
/zigman2/quotes/209932643/composite
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
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