London’s FTSE 100 nudged past the 9,000 milestone on Monday, fuelled by gains in heavyweight mining stocks following a rally in commodity prices.
The index opened up 0.1% at 9,004.07, while the FTSE 250 rose 0.2% to 21,945.74 and the AIM All-Share gained 0.3% to 774.90.
Miners dominated early trade after China began work on the world’s largest dam in Tibet, driving iron ore and steel prices to four-month highs. Glencore led the pack with a 3.7% rise, while Anglo American, Antofagasta, and Rio Tinto followed with gains of 3.3%, 3.1%, and 2.5% respectively.
Outside the FTSE 100, Oxford Nanopore Technologies surged 14% after forecasting stronger-than-expected half-year sales of around £105 million, up 25% from last year. The DNA sequencing company reported robust demand for its PromethION range, with revenue up 59%, and said it remains on track to improve profitability.
Meanwhile, Verici Dx tumbled 27% after announcing a discounted £5 million fundraising to support product development, including its post-transplant rejection test Tutivia. Shares were offered at a hefty 43% discount to Friday’s close.
Allergy Therapeutics fell 9.6% after flagging a revenue drop tied to regulatory changes in Germany, with second-half sales expected to fall 2.8% year-on-year and full-year sales to dip 0.4% despite growth in Spain.