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Commodity-linked stocks lift FTSE 100, QinetiQ weighs on mid-cap index


Published on 2025-03-17 09:41:04 - Reuters
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  • UK's blue-chip FTSE 100 index edged up on Monday, helped by energy and metal miners, while investors geared up for a slew of central bank decisions this week, including from the Bank of England.

The FTSE 100 index saw an uptick, primarily driven by gains in commodity-linked stocks, despite a general decline in European markets due to concerns over U.S. interest rates and economic growth. Mining companies like Anglo American, Antofagasta, and Glencore led the gains, with their shares rising between 1.5% and 2.5%. This surge was attributed to a rebound in metal prices, particularly copper, which had previously slumped. Conversely, the FTSE 250 experienced a downturn, influenced by a significant drop in QinetiQ's stock after the company forecasted lower-than-expected annual revenue and profit. Additionally, the broader market sentiment was affected by disappointing U.S. economic data, including a drop in consumer confidence and home sales, which raised fears of an economic slowdown. Meanwhile, oil prices also contributed positively to the FTSE 100, with companies like BP and Shell benefiting from a rise in crude oil prices.

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[ https://www.msn.com/en-us/money/markets/commodity-linked-stocks-lift-ftse-100-qinetiq-weighs-on-mid-cap-index/ar-AA1B5jOl ]