(Reuters) – UK’s FTSE 100 rose on Wednesday, bucking a gloom in global markets, as commodity-linked stocks surged along with a jump in oil and metal prices as the Ukraine crisis fans fears about supply shortages.
The commodity-heavy FTSE 100 rose 0.8% by 0827 GMT, while UK’s midcap index climbed 0.7%.
Oil majors Shell and BP climbed 3.8% and 3.1%, respectively, as oil prices jumped nearly 8%, with Brent crude zooming past $110 a barrel for the first time since 2014. [O/R]
Global miners Rio Tinto and Glencore also gained about 3%, metal prices, including nickel and aluminium rose, on increasing fears of supply disruptions. [MET/L]
Persimmon Plc gained 5.3% after Britain’s second-largest homebuilder said it expected to build 4-7% more homes in 2022, riding on strong housing demand.
(Reporting by Sruthi Shankar in Bengaluru; Editing by Rashmi Aich)
