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19 Dec 2018 | 16:42

Miners lift FTSE as Wall Street anticipates US interest rate hike

A bounce back in commodity prices lifted the mining sector, helping the FTSE 100 rise 0.9% to 6,765.

Among the biggest risers were Evraz, Glencore and Rio Tinto with gains of at least 2.1% each.

Wall Street enjoyed a strong performance ahead of an anticipated hike in interest rates later today. At around 4:45pm UK time, the S&P 500 was up 0.7% at 2,564.

Brent crude oil jumped 2.4% to $57.61 per barrel.


Pharmaceutical giant GlaxoSmithKline rallied 3.8% to £15.03 after it announced the formation of a new consumer healthcare joint venture with Pfizer that could be listed separately on the stock exchange.

Online gambling group 888 gained 6.9% to 181.7p on announcing that it remained confident that adjusted earnings for the full year would be in-line with its expectations, citing progress against strategic objectives in the second half.


Flybe shares rocketed 10.5% higher to 16.8p after Virgin Atlantic confirmed that it was still mulling a takeover of the UK regional carrier.

Oil rig maintenance vessel outfit Gulf Marine Services tumbled 74.7% to 8.2p after it warned it would breach its debt covenants amid pressure on earnings from an industry oversupply of vessels.

Silence Therapeutics was flat at 55p after announcing it had identified a new potential treatment candidate for cardiovascular disease.

James Fisher and Sons added 6.1% to £18.04 after it won a £30m contract to construct a search and rescue vessel for the Korean navy.

Embattled power retailer Yu Group plunged another 26.7% to 78.7p on the back of revelations it is being investigated by the UK's Financial Conduct Authority over the accuracy of its market filings.

Renewable fuels group Velocys gained 15% to 4.6p as it secured a site for its UK waste-to-jet-fuel project, being developed in collaboration with British Airways and Shell.

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