FTSE 100 Rises Led by Miners, Oil Stocks Fall

2026-08-04 15:43 By Agna Gabriel 1 min. read

The FTSE 100 gained 0.3% on Tuesday, lagging behind other major markets as weakness in energy stocks offset a strong rally in mining shares.

Investor sentiment improved amid growing expectations that the US and Iran could reach an agreement, easing concerns over potential supply disruptions and pushing oil prices sharply lower.

BP shares dropped more than 4.5% despite reporting stronger-than-expected quarterly results, while Shell declined around 2.4%.

Smith & Nephew also weighed on the index, falling over 6% after lowering its full-year sales growth outlook.

In contrast, mining stocks surged, with Antofagasta up around 7%, Anglo American gaining 5.3%, and Fresnillo rising 4.4%.

Rio Tinto, Endeavour Mining, and Glencore also advanced on stronger commodity prices, while HSBC remained broadly unchanged despite solid earnings and a $1 billion buyback announcement.



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