Commodity boost lifts FTSE 100; Melrose jumps on unit sale

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Reuters UK

By Anisha Sircar (Reuters) -London’s FTSE 100 rode a rally in commodity stocks to close higher on Monday, while jet and auto parts supplier Melrose Industries jumped on a deal to sell a unit for $650 million. The blue-chip index gained 1.0%, while the domestically oriented FTSE 250 advanced 1.2% as trading resumed after a long holiday weekend to mark Queen Elizabeth’s Platinum Jubilee. Miners Rio Tinto and Glencore rose 1.6% and 4%, lifting the broader mining sector, as copper prices rallied to five-week highs on hopes of stronger demand from China after the top metals consumer lifted COVID-19…

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