Posted By Global Banking and Finance Review
Posted on February 10, 2025
(Reuters) – London stocks kicked off the week on a high note, with the benchmark index rising due to gains from oil giant BP and precious metal mining stocks, as investors geared up for a busy week of economic data releases.
The FTSE 100 rose 0.6% to 8,748.93 points by 1056 GMT, while the domestically focussed mid-cap FTSE 250 also gained 0.6%.
Heavy-weight BP jumped 6.4% to its highest since August after investor Elliott Management built a stake in the energy major, with expectations that it will press for changes in strategy and the board.
The oil and gas sector rose 1.8%. [O/R]
Precious metal miners gained 1.8%, becoming the top sectoral gainer, as gold continued its record rally with sustained safe-haven demand persisting. [GOL/]
On the economic front, British investors are eagerly anticipating a wave of data releases scheduled throughout the week, including…
