(Reuters) – The UK’s benchmark FTSE 100 index rose on Monday, buoyed by strong performance in mining stocks, while investors also awaited more clarity on U.S. President Donald Trump’s tariff plans.
The blue-chip FTSE 100 was up 0.19%. The domestically focused FTSE 250 index also gained 0.12%.
Miners Anglo American, Antofagasta, Rio Tinto, Glencore and Fresnillo were among the top gainers on the blue-chip index, rising between 3.6% to 2.4%.
Copper prices in London also gained ground, tracking some weakness in the dollar.
The pan-European STOXX 600 was 0.4% higher, led by gains in mining stocks.
This week will see the release of key economic data including UK inflation figures, a half-yearly budget update and the U.S. Federal Reserve’s preferred inflation reading.
However, market sentiment will be driven by updates on U.S. President Donald Trump’s plans for global reciprocal tariffs from April 2.
Back home, businesses in Britain’s huge services sector reported a pickup this month, according to a survey that offered some comfort to Finance Minister Rachel Reeves ahead of a challenging speech on the economy and the public finances this week.
Monday’s preliminary reading of the UK S&P Purchasing Managers’ Index (PMI) for the services sector hit a seven-month high of 53.2 in March, up from 51 in February.
Among other stocks, Wood Group rose 1.3% after the oilfield services and engineering firm extended the deadline to April 17 for Sidara’s new takeover offer.
(Reporting by Ragini Mathur in Bengaluru; Editing by Anil D’Silva)
Comments