FTSE 100 today: Index hits new record as miners and oil stocks lead gains

Investing.com -- U.K.’s blue-chip share index reached a new record high at Friday’s market open, boosted by strong performances in mining and oil companies, while the pound strengthened against the U.S. dollar.

As of 0742 GMT, the FTSE 100 rose 0.08% and the British GBP/USD gained 0.1% against the dollar to above 1.35.

DAX index in Germany rose 0.5%, the CAC 40 in France also gained 0.5%.

Mining and oil stocks lift FTSE 100 in early trading

Mining stocks were among the top performers in early trading, with Glencore PLC (LON:GLEN) climbing as much as 2.7%, Rio Tinto PLC (LON:RIO) gaining 1.6%, and Anglo American PLC (LON:AAL) rising about 2.8%.

Oil stocks also contributed significantly to the benchmark index’s rise, with BP PLC (LON:BP) up 1.3% and Shell PLC (AS:SHEL) adding 0.7%, even as crude prices declined.

AB Foods to buy Hovis Group

In corporate news, Associated British Foods PLC (LON:ABF) announced Friday it has agreed to acquire Hovis Group from Endless.

The deal will integrate the production and distribution operations of ABF’s UK bakery business, Allied Bakeries, with those of Hovis.

Financial terms of the transaction were not disclosed.

Thames Water taps final tranche of £1.5 bln rescue loan

Separately, Thames Water revealed Friday it has drawn down the remaining available funds from the first £1.5 billion ($2.03 billion) tranche of its debt lifeline.

This action ensures the water utility’s liquidity requirements are covered until at least mid-December, according to the company.