UPDATE 2-FTSE 100 slips to snap three-day winning streak; miners support

Reuters

Published Feb 16, 2021 10:30

Updated Feb 16, 2021 18:30

(For a Reuters live blog on U.S., UK and European stock
markets, click LIVE/ or type LIVE/ in a news window)
* Glencore shines on restoring dividend
* Serco rises on buyout offer for Whitney, Bradley & Brown
* BHP up on declaring record dividend
* FTSE 100 down -0.1%, FTSE 250 flat

(Updates to close)
By Shivani Kumaresan, Amal S and Shashank Nayar
Feb 16 (Reuters) - The FTSE 100 ended lower on Tuesday after
investors took a breather after three consecutive sessions of
gains, while bets on a vaccine-led economic recovery and a jump
in mining stocks helped support the commodity -heavy index.
The blue-chip FTSE 100 .FTSE ended down -0.1%, with
pharmaceutical .FTNMX4570 and construction stocks .FTNMX2350
leading declines, while most mining stocks were top boosts to
the index.
Miners Rio Tinto RIO.L , BHP Group BHPB.L and Glencore
GLEN.L were among the top gainers on the index. MET/L O/R
The mid-cap FTSE 250 index .FTMC was flat.
"With the general outlook being still largely positive on UK
equities, markets have taken a little breather after consistent
gains over the past few sessions," said Michael Baker, an
analyst at ETX Capital.
The FTSE 100 has recovered nearly 35% from its March 2020
lows and is now 12% below its peak last year, led by stimulus
support, but a surge in infections and lockdowns have recently
slowed the pace of gains.
Prime Minister Boris Johnson said on Monday he would plot a
cautious but irreversible path out of the COVID-19 lockdown this
week after the vaccination of 15 million vulnerable people.
Glencore GLEN.L jumped 2.0% as it reinstated its dividend
after its net debt fell by 10% in 2020, helped by surging
commodity prices in the second half. BHP Group BHPB.L rose 1.5% after the miner reported its
best first-half profit in seven years and declared a record
interim dividend. British outsourcer Serco SRP.L climbed 4.8% and was the
second best performer in the midcap index after saying it would
buy consulting services provider Whitney, Bradley & Brown Inc
from an affiliate of H.I.G. Capital for $295 million to bolster
its North American defence business.
Miner Petra Diamonds PDL.L gained 6.1% as its half-year
core earnings jumped 20%, although it cautioned that the
pandemic might impact its ability to operate within its
covenants.

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