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FTSE 100 Gains As Commodity Stocks Rally

U.K. stocks rose on Thursday to hit a two-month high, with heavyweight mining and energy stocks leading the surge on optimism about a steady economic recovery from the pandemic-induced slowdown.

The gains came despite the pound hitting a two-week high on expectations the Bank of England will increase rates this year.

The benchmark FTSE 100 climbed 49 points, or 0.7 percent, to 7,191 after closing 0.2 percent higher on Wednesday.

Miners Anglo American, Antofagasta and Glencore gained 3-4 percent while oil & gas firm BP Plc rose 1.2 percent and Royal Dutch Shell added 1.7 percent.

Homewares chain Dunelm Group rallied 1.2 percent after reporting growth in first-quarter sales.

Domino's Pizza Group dropped more than 1 percent. The fast-food chain said it expects labour shortages and higher food costs to continue into the new year.

Grainger jumped almost 4 percent. The property-investment company said that its occupancy rate has recovered to pre-coronavirus pandemic levels.

Recruiter Hays climbed 2.8 percent after reporting a jump in quarterly net fees.

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