Markets: commodity stocks drive FTSE 100 higher

The FTSE 100 bounced back yesterday, climbing 0.8% to close at 6,083.

Commodity stocks were the main drivers. Anglo American led the index up, climbing 5.5%. Antofagasta gained 4.4% and Glencore rose 3.4%. Among energy stocks, BG Group added 3.3%, while Royal Dutch Shell and BP rose between 3.1% and 2.9%.

In Europe, the Paris CAC 40 rose 0.1% to 4,567, and the German Xetra Dax slipped 0.1% to 10,488.

In the US, the Dow Jones Industrial Average rose 1% to 17,417, the S&P 500 added 0.9% to 2,038, and the Nasdaq Composite was 0.7% higher at 5,001.

Japan’s markets were closed for a public holiday. And in China, the CSI 300 fell 0.3% to 3,866, and the Shanghai Composite lost 0.4% to 3,636.

Brent spot was trading at $36.42 early today, and in New York, crude oil was at $36.44. Spot gold was trading at $1,071 an ounce, silver was at $14.24 and platinum was at $873.

In the forex markets this morning, sterling was trading against the US dollar at 1.4836 and against the euro at 1.3588. The dollar was trading at 0.9158 against the euro and 121.01 against the Japanese yen.

And in the UK, Tata Steel says it is in talks to sell its UK business, including its mothballed Scunthorpe plant, to private equity firm Greybull Capital. The deal could preserve up to 4,700 jobs if it goes through.

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