AUS
NZ
UK
CA
USA
FRA
GER
ESP
ITA
NLD
PRT
SWE
GRC
IND
POL
BRA
ZAF
RUS
CHN
UAE
Highlights
FTSE 100 lifted by strong gains in mining stocks like LON:AAL, LON:ANTO, and LON:GLEN
LON:SHEL confirms no acquisition plans for LON:BP.
US dollar slips following policy pressure from Trump, lifting the pound
The FTSE 100 moved higher, supported by gains in mining stocks as the US dollar declined sharply. Within the broader FTSE equity space, the mining sector showed strength, with LON:AAL (Anglo American), LON:ANTO (Antofagasta), and LON:GLEN (Glencore) showing notable upward momentum. This trend followed the weakening of the dollar and a concurrent rise in commodity-linked equities.
The UK’s top index traded modestly higher, as the performance of metal producers helped counterbalance losses in consumer goods and pharmaceutical stocks. Other performers on the upside included LON:III (3i Group), which is known for its holdings in European discount retail, as well as LON:ENT (Entain), LON:STJ (St James's Place), and LON:JD.
Shell Clarifies Position on BP Acquisition Talk
LON:SHEL (Shell) addressed recent market chatter by stating there is no interest in acquiring fellow energy group LON:BP. This clarification followed speculation about possible consolidation in the energy sector. Shell’s statement quelled any short-term conjecture about a major shake-up within the oil and gas space. Both companies remain individually listed on the FTSE 100 and are closely followed due to their weight in the index.
Consumer Staples and Pharma Names Under Pressure
Offsetting the gains from mining and retail shares were declines in major consumer staples and healthcare firms. LON:ULVR (Unilever) and LON:BATS (British American Tobacco) led the retreat, with other names such as LON:HIK (Hikma Pharmaceuticals), LON:HLN (Haleon), and LON:RKT (Reckitt Benckiser) also trading lower. These stocks, typically regarded as more defensive, moved in contrast to the broader sentiment.
Banks also contributed to the drag, with (LON:HSBA) (HSBC) and (LON:NWG) (NatWest Group) trading in negative territory during the session.
Currency Moves Shape Market Mood
A notable theme shaping market direction was the sharp fall in the US dollar. Following comments from former President Donald Trump, who has called for more accommodative policy from the Federal Reserve, the greenback continued its downward trend. This shift supported sterling, which climbed to its highest point in several years. The dollar’s weakness has bolstered sectors tied to global commodities, particularly within the mining segment.
Mixed US Data Leaves Wall Street Unshaken
US economic data released earlier in the day included a downward revision in GDP figures for the first quarter, indicating a contraction. Despite the headline figure being revised lower, market reaction remained muted. Attention is now focused on upcoming personal spending data, which may provide more insight into the trajectory of US economic activity.
While the revisions raised some concerns about domestic demand in the US, equity markets appeared largely indifferent, continuing recent trends rather than reacting sharply to the new numbers.
