FTSE 100 watch: Footsie climbs higher as copper prices lift miners

ITV share price steady ahead of results

FTSE 100 watch: Footsie climbs higher as copper prices lift miners

The UK benchmark index has climbed higher in today’s session, finding support in mining shares which have tracked copper prices higher. In individual FTSE 100 movers, ITV (LON:ITV) has been steady amid analyst comments ahead of its half-year update tomorrow.

FTSE 100 climbs higher

As of 12:31 BST, the Footsie had added 58.22 points to stand 0.76 percent higher at 7,714.01. The miner-heavy index has found support in commodity stocks, which have benefitted from a rise in copper prices. Anglo American (LON:AAL) is currently the session’s biggest riser in percentage terms, having gained 4.30 percent to 1,673.60p so far today.

Blue-chip lenders have also been in demand, with Reuters citing a surge in government bond yields on exceptions over monetary policy tightening in the US and Japan. Royal Bank of Scotland Group (LON:RBS) is currently leading the sector higher, having advanced 3.02 percent to 249.30p.

Individual Footsie movers

In individual stock news, ITV’s share price is 0.50 percent up at 171.60p, as investors await the broadcaster’s interim update tomorrow.

“We expect ITV to provide a beat versus [first-half] guidance at the results on Wednesday with the World Cup and Love Island leading to a very strong June and July advertising performance,” Liberum commented, as quoted by Proactive Investors.

BT Group (LON:BT.A) is marginally outperforming the broader market, even as it announced that a move by its Openreach unit to introduce discounts on fibre broadband for telecoms firms is expected to result in a hit to the division’s earnings and revenue this year. BT’s shares are currently changing hands 0.89 percent higher at 224.23p.

The FTSE 100 was 0.83 percent up at 7,719.07 points as of 12:47 BST on Tuesday, 24 July 2018.

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