- Glencore
- 10 July 2025 17:22:15
Source: Sharecast
The FTSE 100 rose 1.23% to finish at 8,975.66 points, while the FTSE 250 index advanced 0.59% to reach 21,694.70 points.
In currency markets, sterling was last down 0.15% on the dollar to trade at $1.3566, while it gained 0.16% against the euro, changing hands at €1.1609.
“Investors lapped up shares in the mining, oil and pharmaceutical sectors, showing a risk-on mood,” said AJ Bell investment analyst Dan Coatsworth.
“European markets in general continue to shrug off Donald Trump’s daily tariff updates, perhaps seeing them as noise and not facts.”
Coatsworth said Trump was throwing out numbers left, right and centre, with investors starting to dismiss anything not set in stone.
“So many of Trump’s decisions have either been rolled back, forgotten about, or kicked down the road.
“For investors, that means a shift in focus back to economic data and corporate news flow as key drivers for markets.”
UK housing market showing signs of recovery, German inflation eases
In economic news, the UK housing market showed signs of recovery in June, as buyer demand returned to positive territory for the first time since December, according to a closely watched survey from the Royal Institution of Chartered Surveyors.
The net balance of new buyer enquiries rose to 3, up sharply from -22 in May, while agreed sales improved to -3 from -25.
House prices remained negative at -7, though this was unchanged from the prior month and slightly better than expectations.
The market had been volatile earlier in the year due to changes in stamp duty thresholds, which caused a rush of activity followed by a sharp drop.
Near-term sentiment remains cautious, with a three-month price outlook of -10.
However, the longer-term outlook is more optimistic, with a net balance of 24 expecting prices to rise over the next year.
“The UK residential market appears to be entering a more settled phase, with demand showing signs of stabilising following a period of volatility,” said Tarrant Parsons, head of market research and analysis at RICS.
“The earlier distortion caused by transactions being brought forward ahead of the stamp duty changes now appears to have largely dissipated, allowing underlying trends to re-emerge.”
In Germany, inflation eased to an eight-month low in June, confirming earlier estimates from the Federal Statistical Office.
Annual consumer price inflation slowed to 2.0%, down from 2.1% in the previous two months and the lowest rate since October 2024.
Energy prices fell 3.5% year-on-year, while food price inflation dropped to 2.0% from 2.8%.
Service-sector inflation also edged down to 3.3% from 3.4%, indicating a broad-based easing of price pressures across Europe’s largest economy.
“The rate of inflation eased again slightly in June and reached the lowest level registered in the first half of the year,” said Ruth Brand, president of Destatis.
“In addition to the continued decline in energy prices, food price inflation slowed in particular.
“On the other hand, the above-average increase in service prices continued to drive up inflation.”
Across the Atlantic, the US labour market remained resilient despite high interest rates.
Initial jobless claims fell to 227,000 in the week ended 5 July, the fourth consecutive decline and the lowest level in seven weeks.
However, continuing claims rose by 10,000 to 1.965 million, the highest since November 2021.
The four-week moving average of claims fell to 235,500, while the insured unemployment rate held steady at 1.3%, suggesting steady labour market conditions amid ongoing economic uncertainty.
Miners in the green, property stocks hit by broker downgrades
On London’s equity markets, miners marched higher, rebounding from losses sustained on Wednesday.
Glencore climbed 4.11%, Rio Tinto added 4%, Anglo American rose 3.78%, and Antofagasta advanced 1.05%, as the sector recovered alongside stabilising commodity prices.
Jupiter Fund Management surged 10.7% after agreeing to acquire CCLA, the UK’s largest asset manager serving non-profits, in a £100m deal.
Advertising giant WPP gained 1.12% following the appointment of Microsoft executive Cindy Rose as its new chief executive, despite a recent profit warning.
Dr Martens rose 3.35% after reaffirming annual guidance and reporting continued strength in its Americas direct-to-consumer business.
Rank Group climbed 2.62% as it forecast annual profits ahead of expectations despite cost pressures and regulatory uncertainty.
On the downside, Grafton Group tumbled 6.05% after warning that market conditions remain challenging and volume growth is unlikely this year.
Property stocks were under pressure, with British Land and Land Securities falling 2.11% and 2.35% respectively after both were downgraded to ‘underperform’ by Jefferies.
Water utility Severn Trent dipped 1.32% despite reiterating its full-year guidance.
PageGroup slid 0.74% after reporting a sharper profit decline in the second quarter, particularly in the UK and EMEA.
Vistry Group ended 0.77% lower, giving up earlier gains, even as it maintained its profit outlook for the year.
Reporting by Josh White for Sharecast.com.
Market Movers
FTSE 100 (UKX) 8,975.66 1.23%
FTSE 250 (MCX) 21,694.70 0.59%
techMARK (TASX) 5,170.91 1.04%
FTSE 100 - Risers
Rio Tinto (RIO) 4,447.50p 4.00%
Glencore (GLEN) 309.95p 3.94%
Ashtead Group (AHT) 4,920.00p 3.80%
Anglo American (AAL) 2,252.00p 3.78%
Smith & Nephew (SN.) 1,155.50p 3.63%
Whitbread (WTB) 3,082.00p 3.35%
Weir Group (WEIR) 2,624.00p 3.14%
British American Tobacco (BATS) 3,707.00p 3.00%
AstraZeneca (AZN) 10,626.00p 2.55%
Intertek Group (ITRK) 4,950.00p 2.40%
FTSE 100 - Fallers
Land Securities Group (LAND) 580.50p -2.52%
Hiscox Limited (DI) (HSX) 1,227.00p -1.76%
SSE (SSE) 1,853.50p -1.72%
Babcock International Group (BAB) 1,070.00p -1.65%
Centrica (CNA) 154.85p -1.46%
Severn Trent (SVT) 2,626.00p -1.32%
Admiral Group (ADM) 3,238.00p -1.28%
The Sage Group (SGE) 1,223.50p -1.17%
Rolls-Royce Holdings (RR.) 975.40p -0.91%
Kingfisher (KGF) 281.30p -0.85%
FTSE 250 - Risers
Jupiter Fund Management (JUP) 120.00p 10.70%
Morgan Advanced Materials (MGAM) 231.00p 5.72%
Oxford Nanopore Technologies (ONT) 153.40p 5.65%
Hill and Smith (HILS) 1,916.00p 5.51%
Bridgepoint Group (Reg S) (BPT) 341.20p 5.31%
Clarkson (CKN) 3,425.00p 3.63%
Baltic Classifieds Group (BCG) 356.00p 3.19%
Quilter (QLT) 163.50p 3.15%
Vesuvius (VSVS) 398.20p 3.11%
Close Brothers Group (CBG) 405.40p 2.95%
FTSE 250 - Fallers
Grafton Group Ut (CDI) (GFTU) 936.70p -5.86%
Bytes Technology Group (BYIT) 334.60p -5.85%
Great Portland Estates (GPE) 334.00p -3.19%
Drax Group (DRX) 690.00p -2.61%
Energean (ENOG) 927.00p -2.42%
Shaftesbury Capital (SHC) 151.50p -2.19%
British Land Company (BLND) 352.00p -2.11%
Kainos Group (KNOS) 720.00p -2.04%
Travis Perkins (TPK) 578.50p -1.86%
Derwent London (DLN) 1,946.00p -1.57%
