The second-largest theater chain operator in the world filed a plan of reorganization on Tuesday, which caused shares of Cineworld to decline. The FTSE 100 in London increased on Tuesday as miners and oil firms bolstered the commodity-heavy exchange.
By 0721 GMT, the mid-cap FTSE 250 (.FTMC) and the blue-chip FTSE 100 (.FTSE) had both gained 0.7% and 0.6%, respectively.
The FTSE 100 had the biggest boost from industrial miners (.FTNMX551020), which increased 2.4% in tandem with stable copper prices.
Following the movie chain operator’s filing of a plan of reorganization with the U.S. Bankruptcy Court, shares of Cineworld Group (CINE.L) fell 9.7%.
Persimmon (PSN.L) shares increased 2.1% after Barclays changed the homebuilder’s rating from “underweight” to “equal-weight.”
AstraZeneca (AZN.L), a pharmaceutical company, increased 0.2% after Morgan Stanley raised the stock from “equal-weight” to “overweight.”