FTSE 100 Edges Up Slightly
The FTSE 100 edged higher on Monday as strong gains in housebuilders and energy stocks were largely offset by broad weakness across the mining sector. Barratt Redrow jumped 12% and Howden Joinery gained more than 3% after the Labour government announced plans for a new version of the Help-to-Buy equity loan scheme, boosting sentiment toward UK housing-related stocks. Energy companies also advanced, with Shell and BP each rising more than 1% as oil prices strengthened amid the continuing standoff between the US and Iran. Markets remained cautious, however, as hopes for an imminent diplomatic breakthrough in the Middle East conflict faded. Mining stocks came under significant pressure, with Fresnillo falling more than 5% and Endeavour Mining declining over 4% as weaker gold prices weighed on precious-metals producers. Copper prices also fell, adding to pressure across the sector. Antofagasta, Anglo American and Glencore each declined by around 2%, limiting the broader FTSE 100 advance.
The FTSE 100 edged higher on Monday as strong gains in housebuilders and energy stocks were largely offset by broad weakness across the mining sector. Barratt Redrow jumped 12% and Howden Joinery gained more than 3% after the Labour government announced plans for a new version of the Help-to-Buy equity loan scheme, boosting sentiment toward UK housing-related stocks. Energy companies also advanced, with Shell and BP each rising more than 1% as oil prices strengthened amid the continuing standoff between the US and Iran. Markets remained cautious, however, as hopes for an imminent diplomatic breakthrough in the Middle East conflict faded.
Mining stocks came under significant pressure, with Fresnillo falling more than 5% and Endeavour Mining declining over 4% as weaker gold prices weighed on precious-metals producers. Copper prices also fell, adding to pressure across the sector. Antofagasta, Anglo American and Glencore each declined by around 2%, limiting the broader FTSE 100 advance.