Gains push the FTSE close to capping April’s all-time closing high
Gains in commodity producers boosted the FTSE 100 Index, pushing it within 1 percent of a closing record that has proved elusive in October.
Anglo American Plc and BHP Billiton Ltd. rose at least 2.3 percent, sending a gauge of miners toward its highest level since June 2015. EasyJet Plc gained 3.2 percent after UBS Group AG recommended buying the shares. Petra Diamonds Ltd. climbed 6.4 percent after reporting a 30 percent increase in quarterly production.
The FTSE 100 rose 0.4 percent at 9:15 a.m. in London. The benchmark has struggled to close at a record after briefly reaching it on an intraday basis earlier this month. It’s 0.8 percent away from the all-time closing high of April 2015. The gauge of megacaps is on track to be the biggest winner of 2016 among western-European markets, up 13 percent as commodities rallied and a Brexit-induced sterling losses boosted its exporters.
The FTSE 250 Index of mid-cap shares climbed 0.5 percent today, extending its fourth straight monthly advance. That would make it the longest rally since February 2015.
Among other shares active on corporate news, Cobham Plc tumbled 16 percent after the U.K. aerospace and electronics supplier downgraded its full-year earnings forecast, its third profit warning in less than a year.