The FTSE 100 Index Closes 0.05% Higher

The FTSE 100 Index went up by 6 points or 0.05 percent on Monday to close at 10701 points. The rise was led by Barratt Redrow (12.61%), Howden Joinery (3.10%) and Spirax-Sarco Engineering (2.48%). On the downside, the weakerst performers were Fresnillo (-5.12%), Endeavour (-4.49%) and Experian (-3.14%).

The FTSE 100 edged higher on Monday as strong gains in housebuilders and energy stocks were largely offset by broad weakness across the mining sector. Barratt Redrow jumped 12% and Howden Joinery gained more than 3% after the Labour government announced plans for a new version of the Help-to-Buy equity loan scheme, boosting sentiment toward UK housing-related stocks. Energy companies also advanced, with Shell and BP each rising more than 1% as oil prices strengthened amid the continuing standoff between the US and Iran. Markets remained cautious, however, as hopes for an imminent diplomatic breakthrough in the Middle East conflict faded. Mining stocks came under significant pressure, with Fresnillo falling more than 5% and Endeavour Mining declining over 4% as weaker gold prices weighed on precious-metals producers. Copper prices also fell, adding to pressure across the sector. Antofagasta, Anglo American and Glencore each declined by around 2%, limiting the broader FTSE 100 advance.

The FTSE 100 traded higher on Monday, following a modest gain in the previous session, as UK homebuilders surged on expectations surrounding the revival of the Help to Buy scheme. Barratt Redrow jumped nearly 15%, Howden Joinery added 5.1%, and Kingfisher rose 4.2%. Chancellor John Healey is due to address the Labour Party conference ahead of next month’s budget, with the proposed Help to Buy revival offering loan guarantees to support first-time buyers purchasing new-build homes. Market sentiment was tempered, however, after US President Donald Trump rejected Iran’s latest proposal to reopen the Strait of Hormuz, reversing some of the optimism that supported markets late last week. Oil prices rose, lifting Shell and BP by around 1% each. Mining stocks fell broadly, with Fresnillo, Endeavour, Antofagasta, Anglo American, Glencore and Rio Tinto down between 1.8% and 5.5%. Entain fell more than 2% despite maintaining its guidance.