Metals and mining groups led London stocks to a broad rally on Tuesday as European stocks caught up with US stocks after the Dow and S&P 500 hit record highs on Monday. , while operations were closed on Easter Monday in Europe. Antofagasta ANTO, + 4.61% was the biggest winner in the London negotiation, with shares of the mining giant about 5% more. The shares of its peers Rio Tinto RIO, + 3.30%, Anglo American AAL, + 2.88%, Glencore GLEN, + 2.98% and BHP BHP, + 3.12% also rose more than 3%.
In broader trading, the FTSE 100 UKX, + 1.15%, the index of London’s top stocks by market capitalization, was up 1.25%, outperforming the pan-European Stoxx 600 SXXP, + 0.68% and the main indices of Germany and France. “The FTSE 100 was catching up after the Easter holidays, enjoying strong gains after global stocks rose strongly on Monday, supported by strong economic data from the United States and China,” said Danni Hewson, analyst. by AJ Bell. “The S&P 500 in the United States hit another record high overnight, a fact so regular that it no longer feels like a milestone, but rather a catalyst for improving confidence,” added Hewson. “The rest of the week could see markets scramble for direction with relatively few major corporate announcements on the horizon.” However, analysts noted that the continued spread of coronavirus infections in Europe remains a broader concern for markets in the coming week. “The COVID pandemic is likely to continue to dominate, given the nervousness in several countries over the increase in the number of cases,” said Henry Allen, analyst at Deutsche Bank. “Europe has already been moving towards tighter restrictions, with the French shutdown starting on Saturday,” Allen added. “However, the main exception to this pattern has been the United Kingdom, which has one of the most advanced vaccination programs in the world.” Bar and restaurant stocks are hailing the UK’s path to reopening the lockdown. Prime Minister Boris Johnson confirmed Monday that outdoor hospitality businesses could open on April 12, helping pub trader FTSE 100 JD Wetherspoon JDW’s shares rise 2.86% over 2.5 %. Shares of other bars, restaurants and hotels also rose, with shares in Marston’s MARS, + 0.81%, Restaurant Group RTN, + 0.79%, City Pub Group CPC, -2.16%, Whitbread WTB, – 0.06% and InterContinental Hotels Group IHG, + 1.39% more. BP BP, + 3.35% of the shares was another highlight in London, with the shares of the big oil company rising 3.5%. The group said it expects to reach its net debt target of $ 35 billion earlier than expected, in the first quarter of 2021, paving the way for share buybacks. The group’s net debt at the end of 2020 was $ 38.9 billion. Finance was a key sector in Tuesday’s rally, with stocks in HSBC HSBA, + 1.09%, Barclays BARC, + 1.36%, Lloyds LLOY, + 1.15%, NatWest NWG, + 0.38%, and Standard Chartered STAN, + 1.63 % plus 1% higher. Shares of energy company FTSE 100 SSE SSE, + 3.60% were up close to 4% as the market welcomed the news that the company’s procurement division would be sold to asset manager Aurelius Group for £ 27.5 million ($ 30 million). The sale was announced late on Thursday, before the start of the four-day Easter holidays in the UK.