London’s FTSE 100 was up 0.3% at 7,227.45 in afternoon trade on Monday.
Miners were in the black as copper prices rose, with Antofagasta, BHP, Rio and Anglo American all firmer, while Shell and BP gushed higher as oil prices advanced.
HSBC was also on the front foot after it reported bumper third-quarter profits that smashed expectations and unveiled plans for a share buyback of up to $2bn.
The bank’s reported pre-tax profit for the third quarter jumped 75.8% year on year to $5.4 billion, well beyond the $3.776bn forecast by analysts in estimates compiled by the bank. Revenue rose 0.7% to $12bn, compared with an expected 3.1% rise.
Broadcaster ITV lost ground following a report over the weekend that it is considering buying Channel 4.
According to The Times, former Channel 4 boss Lord Grade and ITV are among potential bidders circling the state-owned broadcaster.
FTSE 100 – Risers
Antofagasta (ANTO) 1,475.50p 2.64%
Associated British Foods (ABF) 1,771.50p 2.58%
BHP Group (BHP) 1,988.00p 2.42%
Rio Tinto (RIO) 4,776.00p 2.22%
BP (BP.) 362.65p 2.15%
Royal Dutch Shell ‘A’ (RDSA) 1,783.40p 1.96%
Evraz (EVR) 645.00p 1.90%
Anglo American (AAL) 2,806.50p 1.80%
Royal Dutch Shell ‘B’ (RDSB) 1,799.00p 1.78%
HSBC Holdings (HSBA) 442.50p 1.77%
FTSE 100 – Fallers
BAE Systems (BA.) 576.20p -2.27%
Smiths Group (SMIN) 1,390.50p -2.25%
Intertek Group (ITRK) 4,903.00p -1.80%
Relx plc (REL) 2,210.00p -1.60%
London Stock Exchange Group (LSEG) 7,482.00p -1.55%
Flutter Entertainment (CDI) (FLTR) 14,222.50p -1.30%
Rolls-Royce Holdings (RR.) 133.36p -1.29%
Mondi (MNDI) 1,778.50p -1.19%
Rentokil Initial (RTO) 592.00p -1.07%
ITV (ITV) 102.95p -1.06%