UPDATE 2-FTSE 100 ends second week higher on higher commodity prices, rebound bets


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markets, click LIVE/ or type LIVE/ in a news window)
    * Banks, miners and industrials lead gains on FTSE 100
    * Ashmore drops as assets under management falls by $3.1
    * FTSE 100 up 0.5%, FTSE 250 adds 0.2% 

 (Updates to close)
    By Devik Jain and Shashank Nayar
    April 16 (Reuters) - London's FTSE 100 ended above the 7,000
mark on Friday for the first time since the pandemic pummelled
risk assets last year and gained for the second consecutive week
as falling coronavirus infections lifted optimism about a
stronger economic recovery.
    The blue-chip index  .FTSE  climbed 0.5%, led by gains in
precious metal and base metal miners  .FTNMX551030 
 .FTNMX551020 , which rose 1.7% and 0.7% respectively and
heavyweight banking stocks  .FTNMX301010  that stand to benefit
from an economic re-opening gained 1.7%.
    “Value-style stocks offering jam today rather than jam
tomorrow have been in demand, as well as lots of companies well
placed to benefit from the reopening of the economy thanks to
the rollout of the COVID vaccines," said Russ Mould, investment
director at AJ Bell.
    The prevalence of COVID-19 infections in England dropped
sharply to its lowest level since September, the Office for
National Statistics (ONS) said on Friday, further bolstering
sentiment towards a quicker revival. urn:newsml:reuters.com:*:nL8N2M92S3
    The domestically focussed mid-cap FTSE 250 index  .FTMC 
gained 0.2% for the third consecutive session to hit a fresh
record high.
    Globally, sentiment was bolstered after a batch of Chinese
and U.S. economic data helped investors price in a solid
recovery from a coronavirus-led slump.  MKTS/GLOB 
    The FTSE 100 has bounced back nearly 40% from its pandemic
closing low in March and is nearly 8% away from its January 2020
high as investor confidence in a faster economic revival
strengthened on speedy vaccines and fiscal support.
    Among other stocks, Man Group  EMG.L  rose 0.5% after the
hedge fund manager said it expected customers to put in more
money in the coming quarters as client engagement was positive
this year.  urn:newsml:reuters.com:*:nL4N2M91PU 
    Ashmore Group  ASHM.L  dropped 3.4% to the bottom of the
FTSE 250 index after its assets under management fell by $3.1
billion during the first three months of 2021, as market
volatility hurt performance.  urn:newsml:reuters.com:*:nL1N2M90BJ

 (Reporting by Devik Jain in Bengaluru; Editing by Subhranshu
Sahu, Uttaresh.V and Jonathan Oatis)
 ((Devik.Jain@thomsonreuters.com; within U.S. +1 646 223 8780;
outside U.S. +91 80 6182 2062; ;))
For related prices, Reuters users may click on - * 
 UK stock report      .L     
 FTSE index:          0#.FTS6  
 techMARK 100 index:  .FTT1X          FTSE futures:      0#FFI:  
 Gilt futures:        0#FLG:          Smallcap index:     .FTSC  
 FTSE 250 index:      .FTMC           FTSE 350 index:     .FTLC  
 Market digest:       .AD.L           Top 10 by vol:      .AV.L  
 Top price gainers:   .NG.L           Top % gainers:      .PG.L  
 Top price losers:    .NL.L           Top % losers:       .PL.L  
 * For related news, click on - *
 UK hot stocks:       HOT  and  GB      Wall Street:           .N 
 Gilts report:        GB/             Euro bond report  GVD/EUR 
 Pan European stock report:  .EU 
 Tokyo stocks:        .T              HK stocks:            .HK 
 Sterling report:     GBP/            Dollar report:       USD/ 
 * For company prices, click on - *
 Company directory:   UKEQ           By sector:           FTAX  
 * For pan-European market data, click on - *
 European Equities speed guide................  EUR/EQUITY  
 FTSE Eurotop 300 index...........................  .FTEU3  
 DJ STOXX index...................................  .STOXX  
 Top 10 STOXX sectors........................  .PGL.STOXXS  
 Top 10 EUROSTOXX sectors...................  .PGL.STOXXES  
 Top 10 Eurotop 300 sectors..................  .PGL.FTEU3S  
 Top 25 European pct gainers....................  .PG.PEUR  
 Top 25 European pct losers.....................  .PL.PEUR ))

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