FTSE 100 set to snap six-day losing streak as miners gain
Britain’s FTSE 100 edged higher on Monday, on track to end six straight days of losses, as strength in mining stocks, AstraZeneca and Rolls-Royce offset broader caution ahead of this week’s UK inflation figures. The blue-chip FTSE 100 index rose 0.1% to 10,757.91 points by 1022 GMT, while the mid-cap FTSE 250 slipped 0.2%. AstraZeneca rose 0.9% after reporting results from two of its late-stage…
Britain's FTSE 100 index closed Monday on track to end a six-day losing streak, buoyed by gains in mining stocks and pharmaceuticals. Mid-cap FTSE 250 slipped by 0.2%. AstraZeneca rose 0.9% following positive results from two late-stage lung cancer trials, while miners Fresnillo climbed 1.9% and Antofagasta added 1.5%, benefiting from strong gold and copper prices.
Glencore and Anglo American also gained between 1.3% and 1.8%. Rolls-Royce increased 1.8% after Morgan Stanley and Citigroup raised their price targets. However, Unilever fell 1.3% and Tesco lost 1.6%, weighing on the blue-chip index. The dollar weakened towards two-month lows amid soft U.S. economic data and a dip in retail sales, signaling reduced expectations for an imminent Fed rate hike.
UK job market data and inflation figures due soon will provide further insights into the Bank of England's policy stance. Business confidence remained near its lowest point in years, and new home asking prices dropped significantly in August, according to Rightmove. Britain's credit rating remained at "AA-" with a stable outlook from Fitch. Shares in Time Finance jumped 9.5% after an SME lender acquisition.
Written by urgent.news from Business Recorder's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
