FTSE 100 closes near record high amid mining gains and weak pound

Mace | 11th June 2025 | Politics, Trade Associations

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The FTSE 100 ended Tuesday at 8,254.18, narrowly missing its all-time closing high. Mining stocks and a weaker pound lifted the index, while cautious investor sentiment and upcoming macroeconomic events capped further gains. Global rate expectations, UK labour data, and European political developments all contributed to a watchful trading environment.

The FTSE 100 closed just shy of its all-time high on Tuesday, finishing the session at 8,254.18, only 14 points below the record closing high of 8,272.46 set on 22 May. The index rose 38.48 points, or 0.47 per cent, buoyed by gains in mining stocks and a softer pound, which tends to benefit multinationals that earn in dollars. Despite intraday gains, the index failed to break through the closing peak amid cautious investor sentiment and ongoing global market volatility. Anglo American was among the biggest risers, gaining 3.8 per cent, as traders speculated on the company’s restructuring plans following the collapse of BHP’s takeover attempt. Other top performers included Antofagasta, Glencore, and Rio Tinto, which all benefited from stronger metal prices and optimism around Chinese stimulus measures. The mining sector overall added significant upward pressure to the index throughout the day, with copper and iron ore futures both seeing positive movements during London trading hours. T...

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