FTSE moves back above 7,000 despite mining weakness

Natalie Kenway
clock

The FTSE 100 has risen almost 1% this morning to retake the 7,000 level, as all sectors except materials enjoy gains.

The blue chip index rose 0.9% to 7,048.6 points, after sinking below 7,000 at the end of April, with banks such as RBS and Lloyds leading the gains. The two banks were up 1.1% each, thanks to ratings upgrades from Nomura and Jeffries respectively. HSBC, however, dropped 2% after a trading update underwhelmed investors. Basic materials were held back following results from Glencore which revealed  weaker copper production figures. That caused the miner's shares to fall 1.7%. However, in general UK equities have shrugged off an uneasy trading session overnight in Asia, where China...

To continue reading this article...

Join Investment Week for free

  • Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
  • Get ahead of regulatory and technological changes affecting fund management
  • Important and breaking news stories selected by the editors delivered straight to your inbox each day
  • Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
  • Be the first to hear about our extensive events schedule and awards programmes

Join now

 

Already an Investment Week
member?

Login

More on Economics

UK set for EU deal after 'breakthrough' -reports

UK set for EU deal after 'breakthrough' -reports

Third big deal following India and the US

Patrick Brusnahan
clock 19 May 2025 • 1 min read
Moody's downgrades US credit ratings to Aaa amid increasing government debt

Moody's downgrades US credit ratings to Aaa amid increasing government debt

Outlook upgraded to stable

Linus Uhlig
clock 19 May 2025 • 2 min read
US inflation rises to 2.3% below market expectations

US inflation rises to 2.3% below market expectations

'Far from out of the woods'

Patrick Brusnahan
clock 13 May 2025 • 1 min read
Trustpilot
Loading page