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Recovery optimism pushes UK stocks higher; Smiths Group shines

Published 03/26/2021, 04:21 PM
Updated 03/26/2021, 04:30 PM
© Reuters.

(For a Reuters live blog on U.S., UK and European stock
markets, click LIVE/ or type LIVE/ in a news window)
* FTSE 100 up 0.7%, FTSE 250 adds 0.6%

March 26 (Reuters) - British shares rose on Friday as higher
February retail sales added to global economic recovery
optimism, while Smiths Group jumped after reporting
better-than-expected half-year profit.
The blue-chip FTSE 100 index .FTSE was up 0.7%, with
mining stocks including Rio Tinto RIO.L , Anglo American
AAL.L and BHP Group BHPB.L gaining between 2.3% and 2.6%.
MET/L
Oil heavyweights BP BP.L and Royal Dutch Shell RDSa.L
were also among the biggest boosts, as oil prices rose on fears
that a giant container ship blocking the Suez Canal would
squeeze supplies of crude and refined products. O/R
British retail sales rose in February, helped in part by
consumers buying outdoor furniture ahead of a partial relaxing
of coronavirus restrictions which will allow people to meet in
gardens from next week.
The domestically focused mid-cap FTSE 250 index .FTMC
climbed 0.6%, led by industrials stocks.
Smiths Group SMIN.L rose 5%, after the engineering firm
issued upbeat forecast for the second half of the fiscal year
and reported a better-than-expected profit. Copper miner Kaz Minerals Plc KAZ.L gained 2.9%, after
receiving a final bid worth 4.02 billion pounds ($5.53 billion)
from chairman-led Nova Resources.

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