London’s FTSE 100 was up 0.5% at 7,131.00 in afternoon trade on Monday.
Miners were the top performers as metals prices rose, with Anglo American, Antofagasta, Rio, BHP and Glencore all higher.
IG market analyst Joshua Mahony said: “Lumber, iron ore, coal, and crude and all pushing into long-term highs today, highlighting how the commodities space appears to bring the greatest area of opportunity at a time when markets appear at risk thanks to surging inflation and the potential for a monetary squeeze.”
Investment platform Hargreaves Lansdown gained after Morgan Stanley upgraded the shares to ‘equalweight’ from ‘underweight’.
“With UK rates curve further steepening and Bank of England comments suggesting growing hawkishness, we see positive revision risks linked to net interest income,” it said. “Core headwinds around platform and stockbroking pricing, and normalising trading volumes remain, but we move to equalweight in view of near-term rates related upside.”
On the downside, supermarket retailers Ocado and Tesco were both under the cosh.
FTSE 100 – Risers
Anglo American (AAL) 2,816.00p 4.65%
Antofagasta (ANTO) 1,417.50p 3.96%
Rio Tinto (RIO) 5,117.00p 3.81%
Hargreaves Lansdown (HL.) 1,450.50p 3.53%
BHP Group (BHP) 1,975.40p 3.26%
Glencore (GLEN) 366.80p 3.24%
Standard Chartered (STAN) 494.70p 2.89%
NATWEST GROUP PLC ORD 100P (NWG) 232.40p 2.74%
HSBC Holdings (HSBA) 426.50p 1.66%
BAE Systems (BA.) 583.80p 1.53%
FTSE 100 – Fallers
Ocado Group (OCDO) 1,586.50p -2.34%
Tesco (TSCO) 269.25p -2.30%
Ashtead Group (AHT) 5,498.00p -2.24%
Intermediate Capital Group (ICP) 2,040.00p -2.21%
JD Sports Fashion (JD.) 1,019.00p -2.16%
Flutter Entertainment (CDI) (FLTR) 14,050.00p -2.12%
CRH (CDI) (CRH) 3,394.00p -1.79%
British Land Company (BLND) 484.10p -1.73%
Ferguson (FERG) 10,255.00p -1.68%
SEGRO (SGRO) 1,181.00p -1.67%
