FTSE 100 closes higher, buoyed by miners
The internationally oriented FTSE 100 (.FTSE), opens new tab closed 0.2% higher.
Precious metal miners (.FTNMX551030), opens new tab rose 3.4% to lead the gains among UK sectors, tracking a rise in gold prices. Endeavour Mining (EDV.L), opens new tab gained 4.1%, while Fresnillo (FRES.L), opens new tab advanced 3.6%.
Industrial miners (.FTNMX551020), opens new tab rose 3.1%, tracking a rise in iron ore and steel prices after China announced the start of construction on its mega-dam project in Tibet, which is expected to drive significant demand for construction-grade steel.
Glencore (GLEN.L), opens new tab gained 3%, Anglo American (AAL.L), opens new tab rose 3.3%, Antofagasta (ANTO.L), opens new tab advanced 4.7%, and Rio Tinto (RIO.L), opens new tab up 2.7%.
Media stocks (.FTNMX403010), opens new tab were the laggards on the index with a 1.1% fall. Informa (INF.L), opens new tab fell 1.7%.
The aerospace and defence index (.FTNMX502010), opens new tab lost 1%, led by a 2% fall in BAE Systems (BAES.L), opens new tab.
The domestically oriented midcap FTSE 250 index (.FTMC), opens new tab rose 0.5%, with biotech group Oxford Nanopore Technologies (ONT.L), opens new tab rising 19.2%, highest since January 2024, on higher half-year revenue expectations.
Conversely, MONY Group (MONY.L), opens new tab fell 6.9% after the British price comparison platform's first-half gross margin dropped to 66% from 68% a year ago.
Traders are currently pricing an 85% chance of a 25-basis-point BoE cut next month, as per data compiled by LSEG.
Meanwhile, a Deloitte survey showed British consumer sentiment had a marked fall for the first time in nearly three years last month, reflecting increased worries about job security.
The Bank of England has asked some lenders to test their resilience to potential U.S. dollar shocks, three sources told Reuters.
In corporate updates, BP (BP.L), opens new tab named Albert Manifold, the former boss of building materials producer CRH (CRH.N), opens new tab, as its new chairman on Monday.
The Financial Times reported on Sunday that London Stock Exchange Group (LSEG.L), opens new tab is weighing whether to launch 24-hour trading and is looking into the practicalities of increasing its trading hours. Shares of LSEG were down 1.6%.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The Sun
28 minutes ago
- The Sun
Range Rover to remove convenient feature for next-gen model as designer bizarrely calls it ‘dirty'
THE ELECTRIC Range Rover will not feature a front trunk, according to the designer of the hotly anticipated SUV. The vehicle is yet to officially debut, with only teasers of its design revealed so far - although fans will be pleased to know the EV version closely mirrors that of the combustion-engine model. 4 4 But one convenient feature found in many electric vehicles won't be included - in a decision partly based on customer feedback. The car's designer, Lynfel Owen, recently referred to the front of the car as the "dirtiest part" and questioned why anyone would want to lean against it to use a front trunk. In an interview with CarExpert, Owen said: 'Why would I want to lean against the dirtiest part of the car to put stuff in?' He explained his reasoning in greater detail: 'We spoke to our customers… none of them have an issue [with] lack of storage space. 'The rear cargo space is exactly the same. We haven't had to raise the floor. The only compromise we have to make is we're not able to offer a seven-seat derivative.' Owen has spent the last decade overseeing JLR's transition to electric power, having risen to chief engineer of vehicle engineering for the Range Rover, Range Rover Sport and Defender models. 'I pretty much only ever worked on Range Rover,' he said. 'I've done a few other projects. I didn't work on the [Jaguar] I-Pace. I was working on the previous-generation Range Rover.' To that end, the I-Pace - launched under the Jaguar brand as the first premium all-electric SUV from any manufacturer when it was revealed in 2016 - became infamous for reliability issues, particularly with its electric drivetrain and battery pack. Its poor customer satisfaction prompted Jaguar Land Rover to learn from its failures, focusing on reliability, improved thermal management and customer-centric design in the development of the Range Rover Electric. Owen said: 'We're making sure we learn from, you know, our mistakes with respect to I-Pace. 'So we're testing all aspects of the car… we've just had a northern hemisphere winter that we've completed, so we've been doing our low-mu testing on the frozen lakes.' He added: 'Some people have got [chargers] bolted on. Their garage might have two or three cars… [so you don't have to use a] 15 metre cable. 'Cabin comfort. Battery temperature. Whether it's to cool it down, whether it's to warm it up. Recovering heat from the air at minus 15… It also reduces the heating energy consumption by over 40 per cent [compared to I-Pace].' This includes the decision to forgo a front trunk, with the rear cargo volume remaining unchanged from the combustion-engine version and the 117-kWh battery pack accommodated without raising the floor. This approach contrasts with the I-Pace, which offered a small front storage compartment. Indeed, due to packaging constraints, the electric Range Rover will only be available with two rows of seats - which rules out a seven-seat option. While a spare wheel will be offered, it will reduce luggage capacity as it will sit above the cargo floor. Much like the upcoming Range Rover, Mercedes' electric G-Class also lacks a front trunk - although they compensated with a uniquely styled tailgate-mounted cargo box. The electric Range Rover will not compete with the G580, Owen claims, as it offers unmatched off-road capabilities, combined with Range Rover's famed luxury. The electric Range Rover's world premiere is expected later this year, with deliveries expected to begin in 2026.
BBC News
28 minutes ago
- BBC News
Devon family accommodation sees 'surge' in last-minute bookings
There has been a surge in last-minute bookings for family accommodation in South Devon, helped by the good weather, a tourism boss has executive of the English Rivera Business Improvement District (BID) Carolyn Custerson said family operators, such as holiday parks, big hotels with indoor swimming and family activities, were about 75% full by the start of the six-week summer holidays."The weather stimulates bookings," she said. "It gives people confidence to holiday in the UK and we have seen a surge of last minute bookings."Rhian Hughes, sales and revenue manager at Lady's Mile Holiday Park in Dawlish, said its venue was already 80% full. "Fingers crossed we can get to full capacity," she added."I think over the bank holiday weekend of August, we are 100% full."She agreed that the good weather has played a big part in people booking. South Devon attracts on average more than four million visitors a year and Ms Custerson said bookings will continue "right through the summer". "For the next six weeks - having talked to major operators that provide family accommodation over the last 48 hours - I think we are running at about 75% full," she said."Some people are booking up to 24 or 48 hours before in advance."But she said "there is still capacity"."I think we will be 80% to 85% full by the end of summer, which is very good." She added that the recent spells of hot weather has helped to give tourists confidence in holidaying in the UK, compared to its biggest competitor which is going abroad. "We do have a very strong rebooking pattern which is testament to what we have to offer," added Ms Custerson."We are a year-round destination, but the summer is when the bulk of the visitors come."
The Sun
an hour ago
- The Sun
Major car dealership group with more than 100 UK sites ‘threatens job losses' as firm blames Reeves' tax raids
A MAJOR car dealer giant with over 100 UK sites is planning job cuts despite reporting hefty profits. Group 1 Automotive says it will 'streamline' operations by cutting costs and axing duplicate roles. 2 The dealership doubled its gross profit in the first half of 2025, with sales soaring 94% - boosted by a stronger sales mix and improved aftersales operations, according to Car Dealer Magazine. Sales soared, with new vehicle retail sales up 90% to 32,960 units and used vehicle sales rising 89.5% to 41,580 units. As a result, Group 1's revenues skyrocketed from £1.18bn to £2.3bn in the first half of the year - with gross profit going up by 109.6% to a whopping £313m. The company also reported its UK gross margin improved from 12.6% to 13.6%. This performance comes amid Group 1's ongoing restructuring efforts since August last year, which included integrating Inchcape UK's dealerships after a £346m deal last year. The shake-up is expected to put 370 jobs at risk as of the end of June this year, though exact numbers have yet to be confirmed. A spokesperson for Group 1 said: "In line with other retailers, we continue to face cost headwinds relating to tax increases announced in the last Budget, and in response we have identified opportunities to remove duplication, streamline processes and decentralise certain roles to drive efficiencies across the business." During this quarter, Group 1 shut down two Mercedes-Benz dealerships in a bid to improve the group's UK portfolio. It took a $7.6m (£6.1m) hit tied to layoffs and dealership closures, and has reported spending $18.7 million (£14m) so far this year on restructuring its UK operations. Daryl Kenningham, Group 1 president and CEO, said: 'The U.K. market continues to be challenging in terms of industry volumes and with BEV mandate-related margin pressures.' He added: 'Integration efforts are largely complete and most UK brands are performing to expectations, with positive momentum anticipated in the second half of the year. "SG&A leverage improvement remains a focus in the U.K., with room for further gains. "We'll continue to pursue balanced growth while executing opportunistic share repurchases. "Additionally, we're actively reviewing underperforming stores and developing appropriate plans." US giant Group 1 Automotive operates one of the biggest car dealer groups in the UK. The UK division runs over 115 dealerships and employs more than 7,000 staff. The group represents over 21 brands, including Audi, BMW, Citroën, Ford, Mercedes-Benz and Porsche. It comes as Group 1 recently announced the closure of its Volkswagen Telford dealership - just months after shutting down three other sites. 2
