The FTSE 100 extended its winning streak on Tuesday, with the index rising 0.2% or 24.79 points to 10,366.35. Gains were driven by a rebound in mining stocks, a sharp recovery in precious metals, and supportive global risk sentiment, even as heavyweight AstraZeneca weighed modestly on the index.
Antofagasta climbed around 2.47% to £3,730, while Fresnillo advanced 4.04% to £3,816, supported by a rebound in precious metals.
Gold jumped 5% to $4,915 an ounce, while silver surged 9% to $86.53, recovering sharply after one of the steepest two-day sell-offs in decades.
The rally follows heavy losses late last week, when gold dropped over 13% across two sessions and silver plunged more than 30%.
Rolls-Royce gained 2.48% to £1,261, while Babcock International rose 2.25% to £1,456, reflecting investor appetite for defence exposure.
In contrast, AstraZeneca fell 1.12% to £13,882, trimming gains after completing its first day of trading on the New York Stock Exchange. The stock’s decline capped broader index upside due to its heavy weighting.
RELX slipped 2.48% to £2,521, following a strong advance the previous session, while Next edged lower by 0.30% to £13,405.
Among others, Experian declined 2.04% to £2,684, while Reckitt Benckiser backed 0.84% to £6,129.
Data shows UK grocery price inflation eased to 4% in January, down from 4.3% in December and the lowest level since April.
Spending on own-label products reached a record 52.2% of grocery sales, highlighting ongoing consumer value-seeking behaviour.
Among retailers, Lidl emerged as the fastest-growing bricks-and-mortar chain, with sales up 10.1% year on year.
Ocado saw sales jump 14.1%, lifting its market share to 2.1%, while Tesco and Sainsbury’s posted solid gains of 4.4% and 5.3%, respectively.
Plus500 announced the launch of a regulated prediction markets product for US retail traders via Kalshi, marking its first direct-to-consumer move in the segment.
The FTSE 250-listed trading firm said its US platform, Plus500 Futures, will now offer regulated event-based contracts through Kalshi.
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The S&P 500 index returned to near a record high last night and is forecast to open today’s session in positive territory.
A weaker yen helped to lift the Nikkei 225 by 3.9% while a strong session for AI-related names including Samsung Electronics meant South Korea’s Kospi jumped 7% to a record high.
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