19th February 2021
Weekly Round Up
The FTSE100 started the week positively with the heavily weighted mining and oil and gas companies reaping the rewards of soaring commodity prices. Brent crude oil has traded as high as $63.8/barrel. On Thursday markets started to reverse out some gains from earlier in the week as news broke that UK retail sales dropped 8.2% month-on-month in January, much worse than the 2.5% forecast. Additionally, inflation worries persisted because of higher commodity prices.
Antofagasta, an international mining company based in Chile, as well as natural resources companies Glencore and BHP Group were the biggest risers this week.
Investment service, Hargreaves Lansdown, and precious metal mining companies Polymetal International and Fresnilo were the biggest fallers.