26.01.202616:52:29UTC+00FTSE 100 Edges Up on Monday

On Monday, the FTSE 100 experienced a modest increase, primarily driven by gains in the mining sector. The rally in precious metals, with gold and silver reaching new heights, was at the forefront, propelling shares in Fresnillo upwards by more than 6% and Endeavour by over 3.5%. Additionally, the broader mining sector saw positive movements, with Antofagasta gaining over 5%, Anglo American climbing 2%, and Rio Tinto rising 1.5%. In contrast, stocks in the defence sector saw a decline, as BAE Systems fell by approximately 2.7% and Rolls Royce decreased by about 1%, while Reckitt Benckiser also dipped over 1%. Investors remained cautious due to geopolitical concerns, particularly with tensions resurfacing between the United States and Canada. This was highlighted by Prime Minister Mark Carney's decision to reject a free trade agreement with China, following President Donald Trump's threats of imposing significant tariffs on Ottawa should such an agreement proceed.