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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 +0.76% 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 +0.90% had the largest upward pull on the FTSE 100, as miners including Polymetal International /zigman2/quotes/204469675/delayed UK:POLY +1.48% , Fresnillo /zigman2/quotes/201300065/delayed UK:FRES +0.53% , Glencore /zigman2/quotes/201400686/delayed UK:GLEN +3.35% and Anglo American /zigman2/quotes/201381512/delayed UK:AAL +3.55% 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 +2.94% , silver /zigman2/quotes/210315219/delayed SI00 +0.28% and platinum /zigman2/quotes/210261555/delayed PL00 +0.10% .

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 +0.72% , which also posted strong gains.

U.S. stock futures /zigman2/quotes/209948968/delayed ES00 +0.76% also gained ground on the first trading day of 2021.

U.K. banks including Natwest Group /zigman2/quotes/209265718/delayed UK:NWG +1.68% and home builders such as Taylor Wimpey /zigman2/quotes/208623755/delayed UK:TW +1.29% 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 +0.36% jumped 27% to 1,429 pence, after rejecting the proposed 1,383 pence per share bid from MGM Resorts /zigman2/quotes/209932643/composite MGM +2.61% 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
7,129.71
+53.54 +0.76%
Volume: 605,971
May 7, 2021 4:59p
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/zigman2/quotes/208934945/delayed
UK : U.K.: London
6,535.00 p
+58.00 +0.90%
Volume: 2.22M
May 7, 2021 4:35p
P/E Ratio
14.05
Dividend Yield
6.25%
Market Cap
£106.80 billion
Rev. per Employee
£732,787
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/zigman2/quotes/204469675/delayed
UK : U.K.: London
1,616.50 p
+23.50 +1.48%
Volume: 1.66M
May 7, 2021 4:35p
P/E Ratio
9.17
Dividend Yield
5.73%
Market Cap
£7.54 billion
Rev. per Employee
£185,178
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/zigman2/quotes/201300065/delayed
UK : U.K.: London
911.00 p
+4.80 +0.53%
Volume: 2.08M
May 7, 2021 4:35p
P/E Ratio
23.28
Dividend Yield
2.03%
Market Cap
£6.68 billion
Rev. per Employee
N/A
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/zigman2/quotes/201400686/delayed
UK : U.K.: London
322.75 p
+10.45 +3.35%
Volume: 54.87M
May 7, 2021 4:35p
P/E Ratio
N/A
Dividend Yield
2.67%
Market Cap
£41.61 billion
Rev. per Employee
£765,499
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/zigman2/quotes/201381512/delayed
UK : U.K.: London
3,381.50 p
+116.00 +3.55%
Volume: 3.38M
May 7, 2021 4:35p
P/E Ratio
26.26
Dividend Yield
2.16%
Market Cap
£40.30 billion
Rev. per Employee
N/A
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/zigman2/quotes/210054311/delayed
US : U.S.: Nymex
$ 4.74
+0.14 +2.94%
Volume: 118,141
May 7, 2021 4:04p
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/zigman2/quotes/210315219/delayed
US : U.S.: Nymex
$ 27.56
+0.08 +0.28%
Volume: 78,477
May 7, 2021 4:04p
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/zigman2/quotes/210261555/delayed
US : U.S.: Nymex
$ 1,258.90
+1.30 +0.10%
Volume: 13,349
May 7, 2021 4:04p
loading...
/zigman2/quotes/203048482/delayed
UK : U.K.: London
7,735.00 p
+55.00 +0.72%
Volume: 1.40M
May 7, 2021 4:35p
P/E Ratio
33.81
Dividend Yield
2.68%
Market Cap
£100.82 billion
Rev. per Employee
£282,763
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/zigman2/quotes/209948968/delayed
US : U.S.: CME
$ 4,226.00
+31.80 +0.76%
Volume: 1.58M
May 7, 2021 3:04p
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/zigman2/quotes/209265718/delayed
UK : U.K.: London
£ 200.00
+3.30 +1.68%
Volume: 11.96M
May 7, 2021 4:35p
P/E Ratio
N/A
Dividend Yield
0.02%
Market Cap
£22.74 billion
Rev. per Employee
£237,730
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/zigman2/quotes/208623755/delayed
UK : U.K.: London
180.75 p
+2.30 +1.29%
Volume: 7.05M
May 7, 2021 4:35p
P/E Ratio
30.74
Dividend Yield
2.29%
Market Cap
£6.51 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/207493593/delayed
UK : U.K.: London
£ 1,659.50
+6.00 +0.36%
Volume: 1.45M
May 7, 2021 4:35p
P/E Ratio
169.34
Dividend Yield
N/A
Market Cap
£9.68 billion
Rev. per Employee
£151,088
loading...
/zigman2/quotes/209932643/composite
US : U.S.: NYSE
$ 39.93
+1.02 +2.61%
Volume: 6.70M
May 7, 2021 3:59p
P/E Ratio
N/A
Dividend Yield
0.03%
Market Cap
$19.09 billion
Rev. per Employee
$122,907
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