The FTSE 100 index experienced a positive trading day, marking its third consecutive session of gains. This upward trend was primarily fueled by strong performances in the precious-metal mining sector and the banking industry. Investor sentiment also appears to be cautiously optimistic ahead of the upcoming UK budget announcement later in the week.
- The FTSE 100 rose for a third straight session.
- Precious metal miners saw significant gains: Endeavour climbed over 3% and Fresnillo about 2.5%.
- Financial stocks performed well: Standard Chartered gained more than 3%, Barclays over 2%, and HSBC, Lloyds and NatWest all advanced around 1%.
- Glencore rose more than 2%, Antofagasta about 1.5%, and Rio Tinto 0.6%.
- Anglo American was the main laggard, down nearly 1% following BHP’s withdrawal of acquisition interest.
- Investors are anticipating Wednesday’s UK budget.
The general trend suggests a positive outlook for the FTSE 100, with certain sectors leading the charge. While the failed acquisition bid affected one company negatively, the strength in miners and financials points towards broader market confidence. The upcoming budget announcement is likely to play a crucial role in shaping future market movements.