FTSE 100 Starts Week Higher
The FTSE 100 traded higher on Monday as it attempted to recover from last week’s selloff, although sentiment remained cautious. Mining stocks led the advance, with Endeavour, Fresnillo and Antofagasta gaining around 3%, while Anglo American rose more than 2.5%. Glencore and Rio Tinto also advanced over 1.5%, benefiting from higher gold, silver and copper prices. AstraZeneca and Rolls-Royce added around 1%, while Shell and BP remained under pressure from weaker crude prices. Brent crude fell 1.8% towards $96 a barrel, extending its 16% decline last week as diplomatic efforts to resolve the US-Iran conflict continued. Meanwhile, gold rebounded after Friday’s losses, supported by easing inflation concerns and a recovery in equities. On the economic front, a report by the Recruitment and Employment Confederation and KPMG showed that UK employers reduced hiring in October for the first time in four months, pointing to softer labour market conditions.
The FTSE 100 traded higher on Monday as it attempted to recover from last week’s selloff, although sentiment remained cautious. Mining stocks led the advance, with Endeavour, Fresnillo and Antofagasta gaining around 3%, while Anglo American rose more than 2.5%. Glencore and Rio Tinto also advanced over 1.5%, benefiting from higher gold, silver and copper prices. AstraZeneca and Rolls-Royce added around 1%, while Shell and BP remained under pressure from weaker crude prices.
Brent crude fell 1.8% towards $96 a barrel, extending its 16% decline last week as diplomatic efforts to resolve the US-Iran conflict continued. Meanwhile, gold rebounded after Friday’s losses, supported by easing inflation concerns and a recovery in equities. On the economic front, a report by the Recruitment and Employment Confederation and KPMG showed that UK employers reduced hiring in October for the first time in four months, pointing to softer labour market conditions.