Resource plays lead London market higher after 3-day break

By Steve Goldstein

U.K. stocks returned on Tuesday from a three-day break with strong gains, as commodity plays surged, with oil prices at a more than two-year high.

Miners including Rio Tinto /zigman2/quotes/208934945/delayed UK:RIO +1.35% and Anglo American /zigman2/quotes/201381512/delayed UK:AAL +1.39% , and energy producers BP /zigman2/quotes/202286639/delayed UK:BP +1.70% and Royal Dutch Shell , helped the FTSE 100 /zigman2/quotes/210598409/delayed UK:UKX +0.72% jump 1.2%.

“As the global growth recovery story unfolds, miners in particular are on the front foot today, as high demand for metals in particular push prices higher,” said Susannah Streeter, senior investment and markets analyst at Hargreaves Lansdown.

Tullow Oil /zigman2/quotes/205079109/delayed UK:TLW +2.85% was the top FTSE 250 mover, jumping 11%.

Engineering group Senior /zigman2/quotes/200980573/delayed UK:SNR -2.17% fell 9% to 145 pence, after its 34% surge on Friday. Senior last week rejected Lone Star Global’s 176 pence per share takeover bid.

/zigman2/quotes/208934945/delayed

Add to watchlist UK:RIO

Rio Tinto PLC

UK : U.K.: London

6,163.00 p

+82.00 +1.35%

Volume: 44,034

Feb. 8, 2023 8:03a

P/E Ratio

7.54

Dividend Yield

8.57%

Market Cap

£101.79 billion

Rev. per Employee

£917,806

/zigman2/quotes/201381512/delayed

Add to watchlist UK:AAL

Anglo American PLC

UK : U.K.: London

3,434.00 p

+47.00 +1.39%

Volume: 56,965

Feb. 8, 2023 8:03a

P/E Ratio

7.98

Dividend Yield

5.77%

Market Cap

£44.84 billion

Rev. per Employee

£446,346

/zigman2/quotes/202286639/delayed

Add to watchlist UK:BP

BP PLC

UK : U.K.: London

525.20 p

+8.80 +1.70%

Volume: 2.51M

Feb. 8, 2023 8:03a

P/E Ratio

N/A

Dividend Yield

3.82%

Market Cap

£86.10 billion

Rev. per Employee

N/A

/zigman2/quotes/210598409/delayed

Add to watchlist UK:UKX

FTSE 100 Index

UK : FTSE UK

7,921.10

+56.39 +0.72%

Volume: 12,104

Feb. 8, 2023 8:03a

/zigman2/quotes/205079109/delayed

Add to watchlist UK:TLW

Tullow Oil PLC

UK : U.K.: London

35.32 p

+0.98 +2.85%

Volume: 71,397

Feb. 8, 2023 8:00a

P/E Ratio

7.27

Dividend Yield

0.00%

Market Cap

£489.00 million

Rev. per Employee

£2.98M

/zigman2/quotes/200980573/delayed

Add to watchlist UK:SNR

Senior PLC

UK : U.K.: London

153.00 p

-3.40 -2.17%

Volume: 1.29M

Feb. 7, 2023 4:35p

P/E Ratio

44.35

Dividend Yield

0.20%

Market Cap

£649.19 million

Rev. per Employee

£128,549