London Stocks Surge as Trade Tensions Ease; Miners Lead the Charge
London stocks closed higher on Monday, driven by gains in the mining sector, as U.S. President Trump softened his trade stance with China. The FTSE 100 rose slightly after previous losses, while mining companies saw significant gains due to rising metal prices. Investor sentiment improved amid interest rate stability.
The London stock market ended on a high note Monday, as miners propelled the FTSE 100 upwards following U.S. President Donald Trump's tempered rhetoric on Sino-American trade tensions.
Having fallen 0.9% last session, the FTSE 100 rebounded by 0.16% as Trump eased fears of an impending trade war, reassuring investors with a more amicable stance over the weekend. Miners, particularly in the precious metals sector, outperformed, buoyed by gold surpassing $4,100 per ounce.
Meanwhile, optimism spread across the market. Industrial metal miners gained as copper prices climbed, and the BoE's stable interest rates contributed to positivity. Mergers and acquisitions further sparked growth, spurring mid-cap stocks and boosting the FTSE 250. However, Oxford Instruments saw a dent in its stock value due to projected revenue declines.
(With inputs from agencies.)
ALSO READ
Trump’s Role in India-Pakistan Peace Efforts Highlighted
Zelenskiy-Trump Talks: Long-Range Defense and Energy Challenges Ahead
Trump-Zelenskiy Summit: Crucial Talks over Tomahawk Missiles and Drone Deal
El-Sissi Declares Trump's Mideast Proposal a 'Last Chance' for Peace
Trump will urge leaders to 'put the old feuds' to rest and seize momentum, calling Gaza deal 'first steps' to peace, reports AP.
Google News