© Reuters. FILE PHOTO: Buildings are seen in the Canary Wharf business district, amid the outbreak of the coronavirus disease (COVID-19), in London
(Reuters) – British shares rebounded on Monday, led by energy and mining stocks, as hopes of a vaccine-led economic recovery and more U.S. stimulus overshadowed fears of rising inflation and tightening monetary policy.
The blue-chip climbed 1.4% by 0804 GMT, with mining stocks including Rio Tinto (LON:), Anglo American (LON:) and BHP gaining between 2.1% and 3.1%.
Oil heavyweights BP (LON:) and Royal Dutch Shell (LON:) also provided the biggest boost, with gains of 1.8% and 1.7%, respectively. [O/R]
The domestically focused mid-cap rose 1.3%. Britain’s factory activity data for the month of February is due at 0930 GMT.
AstraZeneca (NASDAQ:) Plc rose 1.1% after a report said the company had sold its 7.7% stake in Moderna (NASDAQ:) Inc for more than $1 billion.
Ladbrokes (LON:) owner Entain rose 1.7% as it raised its offer for rival sports betting firm Enlabs AB, valuing the Sweden-based company at about 3.7 billion crowns ($440.16 million).
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