FTSE 100 Starts Week Higher
The FTSE 100 traded higher on Monday, although it lagged broader European gains after falling 1.5% on Friday, as a fourth consecutive session of declines in oil prices eased some concerns over persistent inflation. Oil majors weighed on the index, with Shell down 1.1% and BP falling 1.6%. Financial stocks provided support, with HSBC up 1.5%, Lloyds Banking Group 1.1% and Barclays 1.8%. Rolls-Royce gained 1.5%, while miners were mixed, with Rio Tinto rising 0.8% and Glencore slightly lower. Gold and silver edged down as investors assessed inflation risks and the outlook for interest rates following the Federal Reserve’s first rate hike since 2023. Copper prices moved higher, supported by expectations of tighter supply and signs of improving demand from China. Elsewhere, JD Sports rose 0.7% after announcing a long-term franchise partnership with Mexico’s Grupo Axo, marking the sportswear retailer’s first entry into the Mexican market.
5% on Friday, as a fourth consecutive session of declines in oil prices eased some concerns over persistent inflation. 6%. 8%. 8% and Glencore slightly lower.
Gold and silver edged down as investors assessed inflation risks and the outlook for interest rates following the Federal Reserve’s first rate hike since 2023. Copper prices moved higher, supported by expectations of tighter supply and signs of improving demand from China. 7% after announcing a long-term franchise partnership with Mexico’s Grupo Axo, marking the sportswear retailer’s first entry into the Mexican market.