09.11.202616:46:51UTC+00Miners Push UK Stocks Higher

The FTSE 100 climbed about 1% on Monday to close at 10,782, rebounding from last week’s selloff and supported primarily by strength in mining stocks. Precious metals producers Antofagasta (up 6.2%), Endeavour Mining (4.9%), Fresnillo (4.2%) and diversified miner Glencore (4.1%) all posted sharp gains, mirroring higher gold and copper prices.

Among other notable movers, Babcock International, Rolls-Royce, BAE Systems and Prudential were also strong performers, advancing between 4% and 5.1%.

In contrast, Whitbread (-2.6%), Imperial Brands (-2.2%), British American Tobacco (-2.1%) and Haleon (-2.1%) registered the biggest declines. Energy majors Shell (-0.7%) and BP (-0.6%) also remained under pressure, weighed down by softer crude oil prices.

On the macroeconomic front, survey data from the Recruitment and Employment Confederation (REC) and KPMG showed that UK employers reduced hiring in October for the first time in four months.