Europe: FTSE 100 rises on commodity boost, set to end turbulent week higher

UK’s benchmark FTSE 100 index rose on Friday (Sep 9) led by commodity stocks and is set to end the week higher, after a few volatile sessions that saw the announcement of the country’s new Prime Minister and the death of its longest-reigning monarch.

The blue-chip FTSE 100 index rose 0.6 per cent at 07:05 GMT, and was headed for its second straight weekly gain.

Oil majors BP and Shell climbed 1.1 per cent and 0.7 per cent, respectively, while miners added 3.3 per cent, tracking firm commodity prices.

Queen Elizabeth, Britain’s longest-reigning monarch, the nation’s figurehead and a towering presence on the world stage for 7 decades, died peacefully at her home in Scotland on Thursday.

The domestically focussed mid-cap index gained 0.6 per cent and was set to end the week 0.7 per cent higher.

Royal Mail rose 0.6 per cent, after saying it was not involved in talks with a private equity firm over a potential sale of the postal group amid clash with its largest labour union over pay. REUTERS