Investor Alert

London Markets Open in:

London Markets

June 1, 2021, 9:14 a.m. EDT

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 (LON:UK:RIO) and Anglo American (LON:UK:AAL) , and energy producers BP (LON:UK:BP) and Royal Dutch Shell (LON:UK:RDSB) , helped the FTSE 100 (FTSE:UK:UKX) 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 (LON:UK:TLW) was the top FTSE 250 mover, jumping 11%.

Engineering group Senior (LON:UK:SNR) 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.

Link to MarketWatch's Slice.