FTSE 100 Rises 1.1%, Led By Strong Gains In Mining Stocks
(RTTNews) - The UK stock market gained significant ground in positive territory on Tuesday, led by strong gains in the mining sector. Renewed optimism surrounding Artificial Intelligence, and expectations of a solution to the Middle East crisis contribute to the positive mood in the market.
The benchmark FTSE 100 was up 117.22 points or 1.11% at 10,601.44 a little while ago.
Miners Antofagasta and Anglo American Plc gained 3.6% and 3.5%, respectively. Glencore climbed 2.5% and Rio Tinto moved up 2.2%, while Endeavour Mining gained 0.6%.
St. James's Place, Polar Capital Technology Trust, Scottish Mortgage, Lion Finance, Babcock International, Sainsbury (J), Spirax Group, Llodys Banking Group, Melrose Industries, Rolls-Royce Holdings, Diploma, Halma, Natwest Group and Croda International, Aberdeen Group and BAE Systems also moved up sharply.
Burberry Group, Persimmon, Barratt Redrow, Vodafone Group, Entain, Diageo and BT Group shed 1%-1.7%.
Final data from the Office for National Statistics showed the UK economy expanded as initially estimated in the first quarter, growing 0.6% sequentially, following a revised 0.1% expansion seen in the fourth quarter. Increased services activity contributed to the expansion.
The production-side of GDP showed that output increased in all three sectors, with the largest contribution from the services activity, which advanced 0.8%. Industrial production climbed 0.2% and construction grew 0.2%.
On the expenditure-side, household spending moved up 0.6% and government spending gained 1.3%.
In 2025, GDP increased 1.3%, which was revised down from 1.4%. This followed an unrevised growth of 1% in 2024.
