Miners including Antofagasta and Glencore paced gains on the top-flight index on Thursday amid further market chatter around the possibility of Chinese fiscal stimulus.
Citing local state media, analysts at SP Angel said local governments might sell over £229bn in debt to finance more stimulus as the economic landscape darkens.
On the flip-side, local Covid-19 cases reached a three-month high of 3,424.
Oil majors BP and Shell also lent their heft to the upside as crude oil and natural gas quotes rose.
“Yesterday’s surprise 7.1 million barrel contraction in US inventories helped undermine the bearish breakdown taking shape for crude, lifting hopes that a tightening supply-demand dynamic will push prices upwards once again,” said IG senior market analyst Joshua Mahony
“However, with an economic slowdown seemingly a foregone conclusion for many of the world’s top crude consumers, it looks likely that this rebound will soon be sold into on the premise of lower demand.”
Front-dated Brent crude oil put on 2.93% to $96.58 a barrel on the ICE, while TTF gas futures were up by 13.16% to €239/MWh.
Aviva, Legal & General and HSBC moved lower as they traded without the rights to their latest dividend.
Market Movers
FTSE 100 (UKX) 7,541.85 0.35%
FTSE 100 – Risers
Harbour Energy (HBR) 396.30p 2.96%
Antofagasta (ANTO) 1,169.50p 2.59%
BP (BP.) 442.00p 2.58%
Prudential (PRU) 973.00p 2.46%
Glencore (GLEN) 498.25p 2.37%
Fresnillo (FRES) 729.80p 2.30%
Smiths Group (SMIN) 1,612.50p 2.25%
Persimmon (PSN) 1,741.00p 2.17%
Land Securities Group (LAND) 722.60p 2.09%
British Land Company (BLND) 473.90p 1.91%
FTSE 100 – Fallers
Aviva (AV.) 439.40p -4.23%
Legal & General Group (LGEN) 270.60p -4.14%
Hikma Pharmaceuticals (HIK) 1,441.00p -3.32%
JD Sports Fashion (JD.) 124.60p -2.81%
Abrdn (ABDN) 161.85p -2.50%
M&G (MNG) 208.90p -2.34%
Ocado Group (OCDO) 901.00p -2.26%
Anglo American (AAL) 2,907.00p -2.01%
B&M European Value Retail S.A. (DI) (BME) 416.30p -1.58%
Reckitt Benckiser Group (RKT) 6,514.00p -1.48%
