The FTSE 100 Index Opens 0.32% Higher

The FTSE 100 started the week higher, attempting to recover from five consecutive sessions of losses, with mining stocks providing the main support. Rising copper prices lifted shares in Antofagasta and Anglo American by 2.4% and 2.2%, respectively, while Glencore also gained around 2.4%. Higher gold prices supported precious-metals miners, with Fresnillo advancing about 2% and Endeavour Mining adding 1.6%. AstraZeneca also rose more than 1% after providing updates on several drug trials, although the pharmaceutical company said it would discontinue a Phase 3 trial for a lung-cancer treatment. Broader sentiment remained cautious as investors continued to monitor developments around the Strait of Hormuz and the wider US-Iran conflict. Iran called on the US to accept defeat over the weekend, while President Donald Trump described Tehran as “very evil” and warned Americans to prepare for continued high fuel prices.

The FTSE 100 Index is picking up 35 points or 0.32 percent on Monday. Gains are led by Glencore (2.30%), Antofagasta (2.06%) and Anglo American (2.03%). Biggest losers are Babcock International (-1.13%), Diageo (-0.99%) and Relx (-0.95%).

The FTSE 100 fell on Friday, extending its losses for a fifth consecutive session, as weakness across mining and pharmaceutical stocks weighed on the index. Lower industrial metal prices pressured miners, with Antofagasta falling more than 4%, Glencore dropping 2%, and Anglo American and Rio Tinto falling more than 1%. Meanwhile, Fresnillo and Endeavour recovered from sharp losses to close nearly flat as gold and silver rebounded. Pharmaceutical stocks were similarly weak, with AstraZeneca and GSK both losing more than 2%. On the other hand, Shell rose 1% as oil prices remained supported. Aviva added nearly 2% after reporting a 24% increase in first-half profit compared with the previous year. The company said it remained on track to meet its three-year group targets, providing some support to its shares. For the week, the UK index went down around 1.4%.