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FTSE 100 opened higher on Monday supported by gains in mining and commodity-linked stocks. The benchmark index rose by 20 points to trade near 10,390 as investors assessed major corporate announcements, global market cues and a week of earnings and economic data.
Mining stocks were among the top performers, tracking a rebound in precious metals and base metal prices.
Endeavour Mining climbed 2.88% to £4,294 backed by rising gold prices while Antofagasta gained 2.71% to £3,678 as copper prices strengthened.
Fresnillo advanced 2.55% to £3,788, benefiting from a sharp recovery in silver, which surged over 6%.
Babcock International rose 2.44% to £1,425 while Metlen Energy & Metals advanced 2.37% to £36.65.
The rally in miners was underpinned by a weaker pound and renewed safe-haven demand, which helped push gold back above the $5,000-per-ounce mark.
Among others, Vodafone Group gained 2.31% to £113.15.
NatWest Group fell around 4% to £636 after announcing the £2.7 billion acquisition of wealth manager Evelyn Partners alongside a £750 million share buyback.
While the deal strengthens NatWest’s presence in wealth management investors reacted cautiously to the size of the transaction.
Lloyds Banking Group fell 23% to £104.7 but Barclays edged higher to £479.75 ahead of its annual results tomorrow.
Among others Unilever slipped 0.59% to £5,219, British American Tobacco declined 0.5% to £4,586 and Severn Trent fell 0.74% to £2,959. It reflects a rotation away from defensive sectors toward commodity-linked names.
Plus500 laid out plans to deliver $187.5 million (£137.7 million) to shareholders through dividends and buybacks as it posted its full-year results.
It comes after the trading group said revenue rose to about $792 million in 2025 from the $768 million the year before with profits again ahead of market expectations.
Meanwhile, its non-Over the Counter business, which includes futures and clearing, generated over $100 million of revenue for the first time.
Japan’s Nikkei 225 surged nearly 4% to a record close following a decisive election victory while US markets ended last week strongly.
The Dow Jones Industrial Average closed above 50,000 for the first time supported by gains in technology and industrial stocks.
In currency markets the pound hovered near $1.36 while gilt yields stayed in focus amid ongoing political uncertainty in the UK.
