Latest News

UK's FTSE 100 rises as mining stocks shine

UK's FTSE 100 rises as mining stocks shine

The UK's benchmark FTSE 100 rose on Monday. Investors were also waiting for more clarity about U.S. president Donald Trump's proposed tariffs.

The blue-chip FTSE 100 index was up 0.19%. The domestically-focused FTSE 250 index gained 0.12%.

Anglo American Antofagasta Rio Tinto Glencore Fresnillo and Fresnillo are among the top gainers in the blue-chip index. They rose between 3.6% and 2.4%.

The copper price in London has also risen, following the weakness of the dollar.

The pan-European STOXX 600 index rose 0.4%, led by mining stocks.

This week, key economic data will be released including UK inflation numbers, a budget update for the half-year and the preferred inflation reading of the U.S. Federal Reserve.

Market sentiment will however be influenced by the latest updates on U.S. president Donald Trump's plans to implement global reciprocal tariffs starting April 2.

A survey conducted by the Finance Ministry in Britain revealed that the services sector has seen a rise this month. This is good news for the Minister of Finance Rachel Reeves, who will be delivering a speech this week on the economy and public finances.

The preliminary reading for UK S&P's Purchasing Managers Index (PMI), which measures the performance of the UK's services sector, was 53.2 on Monday. This is up from 51 at the end of February.

Wood Group, among other stocks rose by 1.3% following the extension of the deadline for Sidara to extend its new takeover bid until April 17. (Reporting by Ragini Mathur in Bengaluru; Editing by Anil D'Silva)

(source: Reuters)