FTSE 100 ends day above 9,000 points for first time
The FTSE 100 index closed up 20.87 points, 0.2%, at 9,012.99, ending a day above the 9,000 points threshold for the first time. It failed to set a new intraday high on Monday, however.
The FTSE 250 closed up 114.20 points, 0.5%, at 22,012.46, and the AIM All-Share closed down 1.90 points, 0.3%, at 770.88.
In European equities on Monday, the CAC 40 in Paris lost 0.3%, while the DAX 40 in Frankfurt edged up 0.1%.
'The latest news on tariffs is mixed. Over the weekend US commerce secretary Howard Lutnick said that he hoped a trade agreement would be reached between the US and the EU, but that the August 1 deadline was hard, although no previous deadline from the US has been that hard so far,' XTB analyst Kathleen Brooks said.
'Early on Monday the news was less positive, with reports suggesting that the new universal tariff on all EU goods will be above the current rate of 10% with fewer exemptions. Voices are also getting louder in the EU about retaliatory measures including new taxes on US tech giants, which could disrupt negotiations even further.'
The pound was up at 1.3506 dollars late on Monday afternoon in London, compared with 1.3444 dollars at the equities close on Friday. The euro traded at 1.1711 dollars, against 1.1656 dollars. Against the yen, the dollar was trading down at 147.29 yen compared with 148.48.
In New York, the Dow Jones Industrial Average was up 0.5%, the S&P 500 traded up 0.6% and the Nasdaq Composite added 0.8%.
SPI Asset Management analyst Stephen Innes said: 'This week is about managing two ticking clocks: the August 1 tariff deadline and the start of big tech earnings. It's a high-stakes cocktail — part policy roulette, part valuation validation.'
The yield on the US 10-year Treasury was quoted at 4.36%, narrowing from 4.42%. The yield on the US 30-year Treasury was quoted at 4.92%, narrowing from 4.99%.
US treasury secretary Scott Bessent said on Monday that the institution of the Federal Reserve – and whether it has been successful – must be examined, as President Donald Trump escalates pressure on the independent central bank.
While Jerome Powell's term as Fed chief ends in May 2026, Mr Trump has recently zoomed in on the Fed's 2.5 billion dollar renovation project as a possible avenue for his ousting.
The fresh attacks came after months of criticism aimed at Mr Powell as the central bank held interest rates steady this year, holding off cuts while policymakers monitored the effects of Mr Trump's tariffs.
Asked if he would offer his opinion on firing Mr Powell, Mr Bessent told CNBC on Monday: 'I think that what we need to do is examine the entire Federal Reserve institution and whether they have been successful.'
On the up in Europe were mining shares. Antofagasta rose 4.7% and Glencore climbed 3.0%.
China started building a mega-dam on Saturday on a river running through Tibet and India, with premier Li Qiang attending the commencement ceremony, state media said.
Beijing approved the project in December on the river – known as Yarlung Tsangpo in Tibet and Brahmaputra in India – linking it to the country's carbon neutrality targets and economic goals in the Tibet region.
'The electricity generated will be primarily transmitted to other regions for consumption, while also meeting local power needs in Tibet,' state news agency Xinhua reported after the groundbreaking ceremony in south-eastern Tibet's Nyingchi.
The development boosted iron and steel prices. In Amsterdam, steelmaker ArcelorMittal added 4.4%.
Oxford Nanopore rose 19%. It left its full-year outlook unchanged, though revenue was higher than expected in the first half of 2025.
The Oxford-based biomedical company focuses on DNA and RNA sequencing technology. It is expecting to report around £105 million in revenue for the six months that ended June 30, up by a quarter from £84.1 million a year prior. This 25% rise is ahead of the company's expectations, it said.
Apax Global Alpha rose 18%. It agreed to a 916.5 million euro takeover from Apax Partners. The deal values each Apax Global Alpha share at 1.90 euros, an 18% premium to its closing price on Friday.
Elsewhere, Aeorema Communications shot up 15%. It expects profit and revenue for the year to June 30 at the upper end of expectations following a 'transitional year'.
The London-based live events agency said it expects revenue of at least £20.4 million for the 12 months that ended June 30, rising at least 0.5% from £20.3 million in financial 2024.
Underlying pre-tax profit of no less than £600,000 is anticipated, up at least 37% from £437,000 and surpassing March guidance of £550,000.
Chief executive Steve Quah said: 'We are pleased to be trading at the upper end of expectations, with strong revenue, profit and cash performance during what has been a transitional year. Furthermore, our restructuring is progressing well and sets us up to improve margins in 2026 without compromising our creative edge.'
The biggest risers on the FTSE 100 were Antofagasta, up 88.00p at 1,956.50p, Endeavour Mining, up 90.00p at 2,284.00p, Fresnillo, up 52.00p at 1,497.00p, Anglo American, up 74.00p at 2,307.00p, and Marks & Spencer, up 10.40p at 352.40p.
The biggest fallers on the FTSE 100 were BAE Systems, down 39.50p at 1,900.50p, Informa, down 14.20p at 822.40p, Diageo, down 32.00p at 1,897.00p, London Stock Exchange Group, down 175.00p at 10,655.00p, and Haleon, down 4.40p at 354.30p.
Tuesday's local corporate calendar has third quarter numbers from contract caterer Compass.
The economic calendar has UK public sector net borrowing data.
Contributed by Alliance News.
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