FTSE 100 Rises Toward Record High

2026-08-04 07:32 By Agna Gabriel 1 min. read

The FTSE 100 gained around 0.5% on Tuesday, moving back toward record highs as a strong rally in mining stocks offset muted performances from some heavyweight companies.

Antofagasta led the sector with a gain of more than 3.5%, while Anglo American advanced 2.5% and Rio Tinto, Glencore, and Endeavour Mining each climbed over 2%, supported by stronger commodity prices.

HSBC, the index's largest constituent, traded only slightly higher despite reporting better-than-expected earnings and announcing a new $1 billion share buyback.

BP also posted modest gains after delivering quarterly results that exceeded market expectations.

In contrast, Smith & Nephew was among the session's biggest laggards, falling more than 7% after cutting its full-year sales growth forecast, citing temporary weakness in its US orthopaedics business that weighed on second-quarter performance.



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FTSE 100 Rises Toward Record High
The FTSE 100 gained around 0.5% on Tuesday, moving back toward record highs as a strong rally in mining stocks offset muted performances from some heavyweight companies. Antofagasta led the sector with a gain of more than 3.5%, while Anglo American advanced 2.5% and Rio Tinto, Glencore, and Endeavour Mining each climbed over 2%, supported by stronger commodity prices. HSBC, the index's largest constituent, traded only slightly higher despite reporting better-than-expected earnings and announcing a new $1 billion share buyback. BP also posted modest gains after delivering quarterly results that exceeded market expectations. In contrast, Smith & Nephew was among the session's biggest laggards, falling more than 7% after cutting its full-year sales growth forecast, citing temporary weakness in its US orthopaedics business that weighed on second-quarter performance.
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