The FTSE 100 edged higher on Monday, closing up 0.2% at 9,012.99, despite growing anxiety around transatlantic trade tensions. London’s mid-cap FTSE 250 rose 0.5% to 22,012.46, while the AIM All-Share slipped 0.3% to 770.88.
Wall Street opened in a stronger mood, with the Dow Jones up 0.5%, the S&P 500 rising 0.6% and the Nasdaq gaining 0.8%, as investors looked ahead to a busy week of corporate earnings.
Across Europe, trading was mixed. Paris’s CAC 40 slipped 0.3% and Frankfurt’s DAX 40 added 0.1%, as investors balanced cautious optimism over trade talks with signs of escalating friction between the US and EU.
Talks around tariffs continued to cloud sentiment. US Commerce Secretary Howard Lutnick over the weekend expressed hope of reaching a deal before the August 1 deadline, but Monday reports pointed to a harsher universal tariff above 10% on EU goods. Meanwhile, EU officials are mulling fresh tech taxes on US giants, adding fuel to the dispute.
In London, miners drove gains with Antofagasta up 4.7% and Glencore rising 3.0%. Sentiment was boosted after China commenced construction on the world’s largest dam in Tibet, sparking a rally in metals prices.
Biotech standout Oxford Nanopore Technologies jumped 19% after confirming first-half revenue beat expectations with a 25% increase to £105 million. The firm maintained full-year guidance and flagged progress on profitability.
Apax Global Alpha soared 18% after agreeing to a €916.5 million buyout by Apax Partners, offering shareholders an 18% premium.
Aeorema Communications climbed 15% after saying profit and revenue will hit the top end of forecasts following a year of restructuring and stabilisation.