FTSE 100 Edges Up Slightly
The FTSE 100 recovered from a weaker opening to close higher on Monday, as gains in mining and banking stocks outweighed a sharp decline in energy shares. Miners led the advance, with Fresnillo and Antofagasta rising more than 4.5%, supported by stronger gold, silver and copper prices amid easing geopolitical tensions. Anglo American gained over 3%, while Rio Tinto advanced around 2%. Banks also performed well, with Lloyds, Barclays and NatWest climbing more than 2%, while HSBC also closed higher. Sentiment towards housing-related stocks received a boost after reports that the Bank of England is considering easing mortgage lending restrictions by raising the income multiple limit from 4.5 to five times household income. In contrast, Shell fell around 3% and BP lost 4.5% as oil prices slumped below $100 a barrel. Hopes for renewed US-Iran negotiations reduced concerns about further escalation and potential supply disruptions, weighing on crude prices.
The FTSE 100 recovered from a weaker opening to close higher on Monday, as gains in mining and banking stocks outweighed a sharp decline in energy shares. Miners led the advance, with Fresnillo and Antofagasta rising more than 4.5%, supported by stronger gold, silver and copper prices amid easing geopolitical tensions. Anglo American gained over 3%, while Rio Tinto advanced around 2%. Banks also performed well, with Lloyds, Barclays and NatWest climbing more than 2%, while HSBC also closed higher.
Sentiment towards housing-related stocks received a boost after reports that the Bank of England is considering easing mortgage lending restrictions by raising the income multiple limit from 4.5 to five times household income. In contrast, Shell fell around 3% and BP lost 4.5% as oil prices slumped below $100 a barrel. Hopes for renewed US-Iran negotiations reduced concerns about further escalation and potential supply disruptions, weighing on crude prices.