Investor confidence edged higher as heavyweight miners surged, pushing the FTSE 100 into positive territory. All eyes remain on upcoming inflation figures and the latest from Washington, where tariff policy updates could stir global markets.
The FTSE 100 gained 0.19% on Monday, supported by strength in mining giants including Anglo American, Antofagasta, Rio Tinto, Glencore and Fresnillo, which climbed between 2.4% and 3.6%. The rise came as copper prices in London edged up, benefitting from a weaker US dollar. The FTSE 250 also advanced, albeit more modestly, with a 0.12% gain.
Momentum in mining extended across Europe, where the STOXX 600 added 0.4%, led by resource-driven optimism. Investors are positioning ahead of several pivotal data points this week, including UK inflation figures, a key fiscal update, and the US Federal Reserve’s preferred inflation metric. However, sentiment remains tethered to geopolitical developments, particularly U.S. President Donald Trump’s upcoming global tariff announcements, set to take effect from April.
Domestically, Britain’s services sector provided a welcome boost. The UK S&P Purchasing Managers’ Index rose to 53.2 in March, marking a seven-month high and signalling expanding economic activity. The uptick offers timely encouragement for Finance Minister Rachel Reeves as she prepares to deliver a closely watched economic address.
Elsewhere, Wood Group shares rose 1.3% following news that the company has extended the deadline for Sidara’s revised takeover bid until 17 April, prolonging speculation over a potential acquisition.
Fidelity Special Values PLC (LON:FSV) aims to seek out underappreciated companies primarily listed in the UK and is an actively managed contrarian Investment Trust that thrives on volatility and uncertainty.
