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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 -0.18% 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 -1.05% had the largest upward pull on the FTSE 100, as miners including Polymetal International /zigman2/quotes/204469675/delayed UK:POLY +0.84% , Fresnillo /zigman2/quotes/201300065/delayed UK:FRES -1.35% , Glencore /zigman2/quotes/201400686/delayed UK:GLEN -2.73% and Anglo American /zigman2/quotes/201381512/delayed UK:AAL -1.76% 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 -1.53% , silver /zigman2/quotes/210315219/delayed SI00 +0.71% and platinum /zigman2/quotes/210261555/delayed PL00 -0.67% .

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 +0.54% , which also posted strong gains.

U.S. stock futures /zigman2/quotes/209948968/delayed ES00 +0.08% also gained ground on the first trading day of 2021.

U.K. banks including Natwest Group /zigman2/quotes/209265718/delayed UK:NWG -0.17% and home builders such as Taylor Wimpey /zigman2/quotes/208623755/delayed UK:TW +2.00% 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 +2.00% jumped 27% to 1,429 pence, after rejecting the proposed 1,383 pence per share bid from MGM Resorts /zigman2/quotes/209932643/composite MGM +0.71% 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
7,264.41
-13.21 -0.18%
Volume: 280,377
Oct. 27, 2021 3:01p
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/zigman2/quotes/208934945/delayed
UK : U.K.: London
4,675.50 p
-49.50 -1.05%
Volume: 1.13M
Oct. 27, 2021 3:01p
P/E Ratio
5.51
Dividend Yield
13.39%
Market Cap
£78.30 billion
Rev. per Employee
£732,787
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/zigman2/quotes/204469675/delayed
UK : U.K.: London
1,385.50 p
+11.50 +0.84%
Volume: 680,698
Oct. 27, 2021 3:01p
P/E Ratio
7.89
Dividend Yield
7.04%
Market Cap
£6.51 billion
Rev. per Employee
£185,178
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/zigman2/quotes/201300065/delayed
UK : U.K.: London
874.00 p
-12.00 -1.35%
Volume: 1.05M
Oct. 27, 2021 3:00p
P/E Ratio
14.17
Dividend Yield
2.72%
Market Cap
£6.53 billion
Rev. per Employee
N/A
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/zigman2/quotes/201400686/delayed
UK : U.K.: London
359.80 p
-10.10 -2.73%
Volume: 20.49M
Oct. 27, 2021 3:01p
P/E Ratio
32.92
Dividend Yield
2.43%
Market Cap
£48.67 billion
Rev. per Employee
£765,499
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/zigman2/quotes/201381512/delayed
UK : U.K.: London
2,769.00 p
-49.50 -1.76%
Volume: 1.63M
Oct. 27, 2021 3:01p
P/E Ratio
6.98
Dividend Yield
6.34%
Market Cap
£34.60 billion
Rev. per Employee
£253,662
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/zigman2/quotes/210054311/delayed
US : U.S.: Nymex
$ 4.42
-0.07 -1.53%
Volume: 49,251
Oct. 27, 2021 10:06a
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/zigman2/quotes/210315219/delayed
US : U.S.: Nymex
$ 24.26
+0.17 +0.71%
Volume: 29,531
Oct. 27, 2021 10:06a
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/zigman2/quotes/210261555/delayed
US : U.S.: Nymex
$ 1,026.00
-6.90 -0.67%
Volume: 7,163
Oct. 27, 2021 10:06a
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/zigman2/quotes/203048482/delayed
UK : U.K.: London
9,052.00 p
+49.00 +0.54%
Volume: 665,403
Oct. 27, 2021 3:01p
P/E Ratio
42.65
Dividend Yield
2.23%
Market Cap
£139.47 billion
Rev. per Employee
£282,763
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/zigman2/quotes/209948968/delayed
US : U.S.: CME
$ 4,568.75
+3.50 +0.08%
Volume: 380,518
Oct. 27, 2021 9:06a
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/zigman2/quotes/209265718/delayed
UK : U.K.: London
£ 233.90
-0.40 -0.17%
Volume: 7.25M
Oct. 27, 2021 3:01p
P/E Ratio
15.49
Dividend Yield
0.03%
Market Cap
£26.68 billion
Rev. per Employee
£237,730
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/zigman2/quotes/208623755/delayed
UK : U.K.: London
155.20 p
+3.05 +2.00%
Volume: 16.95M
Oct. 27, 2021 3:01p
P/E Ratio
11.68
Dividend Yield
5.34%
Market Cap
£5.54 billion
Rev. per Employee
N/A
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/zigman2/quotes/207493593/delayed
UK : U.K.: London
£ 2,042.00
+40.00 +2.00%
Volume: 1.67M
Oct. 27, 2021 3:01p
P/E Ratio
87.34
Dividend Yield
N/A
Market Cap
£11.74 billion
Rev. per Employee
£151,088
loading...
/zigman2/quotes/209932643/composite
US : U.S.: NYSE
$ 47.58
+0.34 +0.71%
Volume: 297,375
Oct. 27, 2021 10:16a
P/E Ratio
N/A
Dividend Yield
0.02%
Market Cap
$22.76 billion
Rev. per Employee
$122,907
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