The FTSE 100 creeped forward again as the market opened on Tuesday, adding 0.2%, or around 10 points. At 9am the FTSE made it as high as 6,792, its highest point in over a month.
“It was a fairly predictable start from the FTSE, following up Monday’s blowout gains – spurred on by the UK speedily reaching a key milestone in the race to vaccinate the nation – with a timid, contemplative open,” said Connor Campbell, financial analyst at Spreadex.
Today was a big day for corporate results as mining giants, Glencore and BHP announced positive dividend news on the back of surging commodity prices.
FTSE 100 movers
Glencore (3.58%) capped its positive dividend news by leading the early morning trade on the FTSE, closely followed by HSBC (3.14%) and Rolls-Royce (2.64%), Tuesday’s next biggest risers so far.
At the other end, Compass Group (-1.67%), Just Eat (-1.28) and Pearson (-1.04), were the biggest fallers during Tuesday morning’s trade.
BHP, the mining giant, has revealed a record $5.1bn interim dividend as its profits half way through the year climbed to a seven-year high. The FTSE 100 mining company, which removed its last dividend in an effort to reduce swelling debt, has put forward a shareholder payout of $0.12 per share.
If the price of the company’s two main commodities – iron ore and copper – remain stable, then BHP will again surpass its debt target of $12-17bn. This could pave the way for another large dividend payment at the end of the fiscal year, according to analysts.
Glencore has today announced it will reinstate its dividend having reduced its debt levels. The FTSE 100 mining company, which removed its last dividend in an effort to reduce swelling debt, has put forward a shareholder payout of $0.12 per share.
Following a close at 282.3p a share following Monday’s trading, Glencore opened up on Tuesday at 290p, following the company’s financial results announcement. Having dipped as low as 112.5p in March 2020, Glencore’s share price has recovered steadily since.