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U.K. stocks rebounded on Tuesday as higher commodity prices helped offset worries surrounding Omicron and interest-rate rises.

In economic news, the U.K. budget deficit reached its second-highest level for the month of November since the records began in 1993, the Office for National Statistics said.

Public sector net borrowing totaled GBP 17.4 billion in November, down by GBP 4.9 billion from the same period last year. This was also bigger than the economists’ forecast of GBP 16 billion.

In the financial year-to-November, the budget deficit decreased by GBP 115.8 billion from the last year to GBP 136.0 billion.

The benchmark FTSE 100 was up 70 points, or 1 percent, at 7,268 after losing 1 percent on Monday.

Energy majors BP Plc and Royal Dutch Shell rose over 1 percent each, while miners Anglo American, Antofagasta and Glencore all jumped over 2 percent.

Schroders rallied 2.2 percent. The asset management company has reached an agreement to acquire a 75 percent shareholding in Greencoat Capital Holdings Limited for an initial consideration of 358 million pounds.

AstraZeneca gained 0.7 percent. The drug maker announced that the U.S Food and Drug Administration has accepted the supplemental Biologics License Application for Ultomiris (ravulizumab-cwvz) in adults with generalized myasthenia gravis.

Gambling firm Rank Group rose 0.7 percent after appointing Richard Harris as its new chief financial officer, effective from May 1.

Shares of Empresaria Group soared 10 percent. The specialist staffing group said it now expects fiscal 2021 profit before tax to be materially ahead of current market forecasts.

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