BRUSSELS (dpa-AFX) - The U.K. market is up marginally in late morning trades on Monday, having eased a bit after a fairly decent upmove at the start. Mining stocks are faring well.
Metal prices climbed higher amid easing U.S.-China trade tensions after U.S. President Donald Trump struck a more conciliatory tone on trade with China, saying that everything would be 'fine' and that Washington was not looking to 'hurt' China.
The benchmark FTSE 100 was up 6.06 points or 0.06% at 9,433.53 about half an hour before noon. The index had advanced to 9,460.76 earlier in the session.
Miners are in demand as metal prices moved higher. Fresnillo is soaring nearly 8%. Endeavour Mining is gaining nearly 6%, Antofagasta is rising 3.7% and Anglo American Plc is advancing 2.75%. Glencore and Rio Tinto are up 2.1% and 1.3%, respectively.
Persimmon, M&G, Berkeley Group Holdings, Entain, Barratt Developments, Lloyds Banking Group, Burberry Group, Marks & Spencer, St. James's Place, Ashtad Group, Segro and JD Sports Fashion are up 1.3 to 2.7%.
British retailer Pets At Home are up 2.3% after launching the second tranche of its £25 million share buyback program.
Babcock International is declining by about 2.6%. Scottish Mortgage is down nearly 2%, while Vodafone Group, BAE Systems, Smiths & Group, Polar Capital Technology Trust, Reckitt Benckiser, Rolls-Royce Holdings and F&C Investment Trust are down 1 to 1.4%.
AstraZeneca is down nearly 1% after it became the second pharma group to reach an agreement with the Trump administration to lower drug prices in exchange for tariff relief.
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