FTSE 100 set for fourth straight weekly gain as miners, retailers rise

Reuters2021-08-13

* FTSE 100 up 0.3%, FTSE 250 adds 0.2%

Aug 13 (Reuters) - London’s FTSE 100 rose on Friday, led by heavyweight miners and retailers, although investors fret that an overheating economy could lead the central bank to pull back asset purchases earlier than expected.

The blue-chip FTSE 100 rose 0.3%, heading for a fourth straight weekly gain - its longest winning streak since November last year. Industrial and precious metal miners, and retail stocks led the gains.

The domestically focussed mid-cap index advanced 0.2% to hit a record high with British engineering company Babcock leading the gains.

BABCOCK INTERNATIONAL GROUP PLC jumped 6.8% to the top of the mid-cap index after it agreed to sell its consultancy unit Frazer-Nash for 293 million pounds ($404.5 million) in cash.

Miner BHP Group gained nearly 1% as expectations grew that it would deliver a verdict on the future of its petroleum business at its results next week.

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