FTSE 100 holds flat as miners rise and rate bets persist

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FTSE 100 holds flat as miners rise

Highlights

FTSE 100 remains flat at 10,747.56 by 1006 GMT while FTSE 250 rises 0.4% to 24,596.70, both set for a weekly decline.
Antofagasta jumps 6.4% and Endeavour Mining gains 4% as higher gold and copper prices boost mining stocks on the FTSE 100.
Traders expect Bank of England to hold rates next month but price in at least one 25-basis-point hike by end-2026 amid mixed UK data.

Market moves and economic signals

As reported by Reuters, the blue-chip FTSE 100 is flat at 10,747.56 points by 1006 GMT, while the midcap FTSE 250 climbs 0.4% to 24,596.70 points. The two indexes are both set to close the week modestly lower after a period of volatility across global markets.

Global stocks are heading for their biggest weekly fall since mid-July as pressure in bond markets shows little sign of easing. U.S. Treasury Secretary Scott Bessent says he may further increase government Treasury repurchases after the previous day's surprise plan to double buybacks, a move that weakens the dollar and influences broader risk appetite.

UK data offers a mixed picture for investors. Official figures show British retail sales fall back in July after a June boost from hot weather demand for cooling products and supermarket promotions linked to the men's soccer World Cup, while a separate survey indicates the services sector unexpectedly improves this month despite the conflict in the Middle East.

Stock drivers and rates outlook

Mining stocks lead gains on the main index as gold and copper prices edge higher. Antofagasta rises 6.4% and Endeavour Mining adds 4%, supported by firmer precious and industrial metals prices.

Among individual movers, JD Sports rebounds 6.6% after dropping more than 14% on Thursday when the retailer cut its profit outlook. Energy services company Hunting falls 13.4% after lowering its annual core profit forecast because of delays to a major Kuwait Oil Company tender process.

The Bank of England is widely expected to keep interest rates unchanged next month, but traders are still pricing in at least one 25-basis-point increase by the end of 2026. That outlook keeps monetary policy in focus as investors assess whether resilient parts of the UK economy can offset inflation risks tied to geopolitical tensions.

Our earlier coverage of the U.S. Treasury’s expanded long-dated bond buybacks explained why Washington moved to at least double repurchases in the 10- to 30-year sector to support liquidity and ease pressure from elevated yields. We also noted that the announcement coincided with a weaker dollar and a jump in gold and other commodity-linked assets, underscoring how bond-market policy signals can spill over into broader risk sentiment.

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