{"id":107202,"date":"2021-02-16T17:52:55","date_gmt":"2021-02-16T17:52:55","guid":{"rendered":"https:\/\/fin2me.com\/?p=107202"},"modified":"2021-02-16T17:52:55","modified_gmt":"2021-02-16T17:52:55","slug":"financials-drive-ftse-100-higher-on-recovery-optimism","status":"publish","type":"post","link":"https:\/\/fin2me.com\/markets\/financials-drive-ftse-100-higher-on-recovery-optimism\/","title":{"rendered":"Financials drive FTSE 100 higher on recovery optimism"},"content":{"rendered":"<p>(Reuters) &#8211; The FTSE 100 rose on Tuesday, helped by financial stocks that gained on bets of a vaccine-led economic recovery from a coronavirus-induced recession, while Glencore jumped after reinstating its dividend.<\/p><figcaption>FILE PHOTO: Buildings are seen in the Canary Wharf business district, amid the outbreak of the coronavirus disease (COVID-19), in London, Britain January 27, 2021. REUTERS\/Peter Cziborra\/File Photo<\/figcaption><p>The commodity-heavy FTSE 100 was up 0.4%, with financials HSBC Holdings and Prudential Plc rising 2.8% and 1.5%, respectively.<\/p>\n<p>Miners Rio Tinto, Anglo American and oil producers BP and Royal Dutch Shell were also among the biggest gainers. [MET\/L] [O\/R]<\/p>\n<p>The mid-cap FTSE 250 index added 0.2%.<\/p>\n<p>\u201cMarkets are defending their gains today rather than making any great strides forward,\u201d said Connor Campbell, a financial analyst at SpreadEx.<\/p>\n<p>\u201cHow firm and informative the government will be on the lockdown easing timeline will dictate how the market moves in the coming weeks.\u201d<\/p>\n<p>The FTSE 100 has recovered nearly 34% from its March 2020 lows and is now 14% below its peak last year, led by stimulus support, but a surge in infections and lockdowns have recently slowed the pace of gains.<\/p>\n<p>Prime Minister Boris Johnson said on Monday he would plot a cautious but irreversible path out of the COVID-19 lockdown this week after the vaccination of 15 million vulnerable people.<\/p>\n<p>Glencore jumped 2.7% as it reinstated its dividend after its net debt fell by 10% in 2020, helped by surging commodity prices in the second half.<\/p>\n<p>BHP Group rose 0.4% after the miner reported its best first-half profit in seven years and declared a record interim dividend.<\/p>\n<p>British outsourcer Serco jumped 7.4% to the top of the midcap index after saying it would buy consulting services provider Whitney, Bradley &amp; Brown Inc from an affiliate of H.I.G. Capital for $295 million to bolster its North American defence business.<\/p>\n<p>Miner Petra Diamonds gained 8.1% as its half-year core earnings jumped 20%, although it cautioned that the pandemic might impact its ability to operate within its covenants.<\/p>\n<p>Source: <a href=\"https:\/\/www.reuters.com\/article\/britain-stocks\/update-2-ftse-100-slips-to-snap-three-day-winning-streak-miners-support-idUSL4N2KM1RK\" target=\"_blank\" rel=\"noopener noreferrer\">Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Reuters) &#8211; The FTSE 100 rose on Tuesday, helped by financial stocks that gained on bets of a vaccine-led economic recovery from a coronavirus-induced recession, [&#8230;]<\/p>\n","protected":false},"author":3,"featured_media":107201,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Financials drive FTSE 100 higher on recovery optimism - Fin2me<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/fin2me.com\/markets\/financials-drive-ftse-100-higher-on-recovery-optimism\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Financials drive FTSE 100 higher on recovery optimism - Fin2me\" \/>\n<meta property=\"og:description\" content=\"(Reuters) &#8211; 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