The FTSE 100 Index Opens 0.48% Higher

The FTSE 100 Index is picking up 51 points or 0.48 percent on Monday. Gains are led by Antofagasta (2.60%), Anglo American (2.50%) and Standard Chartered (2.50%). Biggest losers are BP (-1.74%), J Sainsbury (-1.06%) and Barratt Redrow (-0.98%).

The FTSE 100 traded higher on Monday, although it lagged broader European gains after falling 1.5% on Friday, as a fourth consecutive session of declines in oil prices eased some concerns over persistent inflation. Oil majors weighed on the index, with Shell down 1.1% and BP falling 1.6%. Financial stocks provided support, with HSBC up 1.5%, Lloyds Banking Group 1.1% and Barclays 1.8%. Rolls-Royce gained 1.5%, while miners were mixed, with Rio Tinto rising 0.8% and Glencore slightly lower. Gold and silver edged down as investors assessed inflation risks and the outlook for interest rates following the Federal Reserve’s first rate hike since 2023. Copper prices moved higher, supported by expectations of tighter supply and signs of improving demand from China. Elsewhere, JD Sports rose 0.7% after announcing a long-term franchise partnership with Mexico’s Grupo Axo, marking the sportswear retailer’s first entry into the Mexican market.

The FTSE 100 Index dropped 164 points or 1.51 percent on Friday to close at 10652 points. Losses were led by Airtel Africa (-11.27%), Coca-Cola (-7.94%) and Entain (-5.63%).