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Recovery bets lift British stocks as miners, oil stocks jump
Published at 01/03/2021 at 08:18

(For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window)

* FTSE 100 up 1.4%, FTSE 250 adds 1.3%

March 1 (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 FTSE 100 index climbed 1.4% by 0804 GMT, with mining stocks including Rio Tinto , Anglo American and BHP gaining between 2.1% and 3.1%.

Oil heavyweights BP and Royal Dutch Shell also provided the biggest boost, with gains of 1.8% and 1.7%, respectively.

The domestically focused mid-cap FTSE 250 index rose 1.3%. Britain's factory activity data for the month of February is due at 0930 GMT.

AstraZeneca Plc rose 1.1% after a report said the company had sold its 7.7% stake in Moderna Inc for more than $1 billion.

Ladbrokes 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).

(Reporting by Shivani Kumaresan in Bengaluru; Editing by Subhranshu Sahu)

((Shivani.Kumaresan@thomsonreuters.com; +1 646 223 8780;))

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