London equities started the week on the front foot, with the FTSE 100 rising 0.2% to 9,154.13. The FTSE 250 also added 0.2% to 21,798.77, while the AIM All-Share edged up 0.1% to 761.41.
The cautious optimism comes as investors digest last week’s meeting between Donald Trump and Vladimir Putin, while attention turns to the Jackson Hole symposium and a slate of economic data due later this week.
Defence names helped lift the FTSE. Babcock International climbed 2.4% after RBC initiated coverage with an “outperform” rating and a price target of 1,200p. BAE Systems followed, up 1.5%.
Miners were a drag, with Anglo American down 1.2%, Antofagasta off 1.1%, and Glencore and Rio Tinto both losing 0.9%.
On the AIM, Faron Pharmaceuticals gained 2.4% after announcing it had received “positive and valuable” feedback from the US Food & Drug Administration on its clinical development plan for bexmarilimab. The guidance covered trial design, dosing, and clinical endpoints for the planned phase 2/3 study in higher-risk myelodysplastic syndrome patients.