FTSE 100 steady as mining gains offset sector softness ahead of US jobs data

Fidelity

London’s FTSE 100 traded slightly higher today, supported by strength in mining and energy shares as investors turned to commodity-linked sectors ahead of a closely watched US employment report. While the broader European market showed mixed signals, the UK’s blue-chip index benefited from its exposure to natural resources, offering relative resilience in a cautious global environment.

Major miners led gains in early trading, reflecting firmer prices in both gold and industrial metals. Gold approached recent highs as softer US economic signals encouraged safe-haven positioning, while base metal prices gained from improved demand expectations.

Oil majors also advanced as Brent crude extended gains, bolstered by continued geopolitical risk and a weaker dollar. This dynamic helped balance underperformance elsewhere in the index, particularly in sectors more sensitive to domestic policy and earnings volatility. The FTSE 100’s composition provided a useful hedge for investors seeking exposure to global commodity cycles rather than relying solely on UK economic momentum.

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.

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