Miners and airlines shine as FTSE 100 rallies

Miners and airlines shine as FTSE 100 rallies

U.K. stocks joined a global rally on Monday, as the chairman of the Federal Reserve said the U.S. central bank still had tools to fight the economic crisis and as data showed new virus cases growing at the slowest rate in months.

Metals producers and travel stocks led the way. Silver miner Fresnillo FRES, 9.08% surged as silver futures SI00, 3.46% rose over 4%.

Low-cost carrier easyJet EZJ, 9.23% and British Airways owner International Consolidated Airlines Group IAG, 9.47% each rallied over 7%. Rival Ryanair RYA, 11.57% forecast a loss and said it would cut 3,000 staff jobs.

Crude-oil futures CL.1, 9.34% rallied as data showed fewer rigs in operation, giving a lift to oil giants BP BP, 5.90% and Royal Dutch Shell RDSA, 5.33%.

The FTSE 100 UKX, 2.96% rose 2.4% in midday trade, with 90 components advancing.

The strong gains in the FTSE 100 were matched in other major European markets.

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