Mining, energy stocks push FTSE 100 higher

London’s FTSE 100 rose on Monday, as mining and energy stocks tracked strong gains in commodity prices and investors were hopeful that global vaccine rollouts would quicken the economic recovery this year.

The commodity-heavy FTSE 100 was up 0.8% by 0806 GMT, boosted by miners Anglo American (LON:AAL), Rio Tinto (LON:RIO) and BHP Group and oil producers BP (LON:BP) and Royal Dutch Shell (LON:RDSa).

Oil prices surged to their highest in 13 months as the Saudi-led coalition fighting in Yemen said it intercepted and destroyed an explosive-laden drone fired by the Iran-aligned Houthi group toward the kingdom. [O/R]

The mid-cap FTSE 250 index added 0.7%, gaining for a third straight session.

Britain’s housebuilding sector gained 0.2% as a survey showed asking prices for homes unexpectedly rose in January and early February.

Rolls-Royce (LON:RR) climbed 0.1% after appointing Panos Kakoullis, the former head of Deloitte’s audit and assurance practice, as its new chief financial officer.