The FTSE 100 traded higher on Monday as gains in mining stocks and improving sentiment across European markets helped support London’s leading share index.
The index rose around 0.6% to 10,746 points during morning trading, with gold and industrial metal prices supporting mining companies. Endeavour Mining was among the stronger performers, while gains across precious metal producers provided further support.
Lower oil prices also helped improve sentiment, easing some concerns about inflation and the potential impact of energy costs on the wider economy. However, developments surrounding the Strait of Hormuz continued to attract attention, with shipping security remaining a source of uncertainty.
Sterling strengthened against the US dollar as markets assessed the latest employment figures and expectations for future Bank of England interest rate decisions.
Investors are also looking ahead to UK third-quarter GDP figures due later this week, alongside industrial production and manufacturing data. The releases will provide further insight into the health of the British economy.
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