UK stocks open higher on Bunzl, mining boost

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London stocks opened higher on Tuesday following an extended weekend as miners rose on optimism over fresh policy support from top consumer China, while Bunzl advanced on upbeat annual profit outlook.

Article originally published by Reuters. Hargreaves Lansdown is not responsible for its content or accuracy and may not share the author's views. News and research are not personal recommendations to deal. All investments can fall in value so you could get back less than you invest.

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29 Aug 2023

The blue-chip FTSE 100 index surged 1.3% in early trade, while the FTSE 250 rose nearly 1%.

The FTSE 100 outpaced its regional peers, with the broader pan-European STOXX 600 up 0.6%.

The London Stock Exchange was closed on Monday due to a summer bank holiday.

Shares of Bunzl climbed nearly 4% after the British business supplies distributor hiked its annual adjusted operating profit forecast. Bunzl's stock was the biggest gainer in the benchmark index.

Industrial metal miners tracked metal prices to gain 1.7%. China said in a brief statement on Sunday it was halving stamp duty on stock trades.

Precious metal miners also climbed 1.7%, supported by an uptick in gold prices as the U.S. dollar and bond yields retreated.

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