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Highlights
FTSE 100, DAX, and CAC indexes advanced as the US and China reached a short-term agreement on tariff reductions.
London-listed mining firms such as Antofagasta and Glencore recorded notable intraday gains.
Broader European benchmarks, including the STOXX 600, also moved higher during morning trading hours.
The FTSE 100 Index, part of the broader FTSE 350 and comprising major blue-chip companies listed on the London Stock Exchange (LSE), opened the week on a positive note. Gains were observed across major European stock markets, including Germany’s DAX and France’s CAC Index, following updates related to international trade between the US and China. A provisional agreement between the two nations regarding a temporary reduction in tariffs spurred renewed momentum across sectors, with the mining segment leading early market activity.
US Treasury authorities revealed that both nations reached an agreement to suspend tariff hikes for a period of time. The revised measures include significant reductions in import duties, scaled back to single-digit percentages. This shift marks a temporary halt in the trade escalation that had previously caused extensive uncertainty across international markets.
Mining Stocks Lift the FTSE 100 Index
Mining companies were among the early leaders on the FTSE 100 Index. Antofagasta (LSE:ANTO) and Glencore (LSE:GLEN) each recorded notable increases during morning trading. These companies, heavily reliant on international commodity demand, typically react sharply to developments in global trade policy. Easing trade tensions supported higher sentiment for metals and minerals exporters, providing uplift across the sector.
The broader FTSE 350 Index, which encompasses both the FTSE 100 and FTSE 250, reflected similar positive momentum during early session activity.
European Markets See Widespread Gains
Alongside gains on the London Stock Exchange, other major European indices displayed positive movement. Germany’s DAX Index registered moderate strength, with a rebound observed in industrial and automotive-related segments. France’s CAC Index also followed suit, supported by gains in consumer goods and financial stocks. These gains occurred alongside advances in the pan-European STOXX 600 Index, which measures overall performance across multiple European economies.
Momentum across the continent reflected broader sentiment improvement driven by the international agreement, particularly among companies with significant trade exposure.
Currency Markets Remain Steady
In foreign exchange markets, movements were more subdued despite the equity rally. Sterling held its position relative to major global currencies, while the dollar and euro traded within tight ranges. Market participants noted that while equity markets responded immediately to trade-related headlines, currency markets remained more measured as further clarity is awaited regarding the next stages of US-China negotiations.
Focus remained on further updates from monetary authorities and trade representatives over the coming weeks.
Commodity Prices and Global Trade Exposure
Prices for industrial metals such as copper and iron ore saw slight increases during the session, aligning with the upward shift in mining equities. Reduced tariff rates are expected to ease supply chain pressures in the near term, improving prospects for companies engaged in resource extraction and export. Companies listed on the FTSE 100 Index with global operational footprints benefited from this shift, particularly those with exposure to Asian markets.
As trading continued into the afternoon, market participants monitored both regional performance and further communication from trade negotiators to assess the impact of the tariff developments across sectors.
