FTSE 100 Rebounds as Defence, Mining Stocks Rally
The UK's FTSE 100 index rose by 0.6% on Monday, driven by gains in defence and mining stocks amidst easing trade tensions. Homebuilder shares fell due to stagnant housing prices. Investor focus shifted to corporate earnings and an upcoming inflation report, while the banks index recovered from earlier losses.
The UK's prominent FTSE 100 index experienced a rise of 0.6% on Monday, primarily due to increased gains in the defence and mining sectors as easing trade tensions rejuvenated investor confidence.
Homebuilder stocks faced setbacks following a survey highlighting stagnant housing prices, which failed to meet seasonal expectations. Investors redirected attention to forecasting corporate earnings and anticipated inflation reports, positively impacting indices.
Defence stocks, including Babcock and Rolls-Royce, led the charge within the FTSE 100 with gains of 2.3% and 2.6%. The bank index saw a recovery, meanwhile, homebuilders like Persimmon decreased as the property market showed signs of stagnation.
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