---
title: "FTSE 100 edges higher as Next and miners offset bank weakness"
publisher: "Share Talk"
author: "sharetalk"
published: "2026-08-05T16:17:48+00:00"
modified: "2026-08-05T16:43:13+00:00"
date: 2026-08-05
canonical: "https://www.share-talk.com/ftse-100-edges-higher-as-next-and-miners-offset-bank-weakness/"
category: "Blogs"
categories: ["Blogs", "Technology", "Technology, Media & Telecoms"]
tags: ["Asia", "Bangkok", "Denmark", "Endeavour Mining", "Fed", "Federal Reserve", "Finland", "FRANCE", "FTSE 100", "GERMANY", "Glencore", "Greenland plan", "Hong kong", "Japan", "London", "Manila", "mining stocks", "Mumbai", "Nasdaq Composite", "NATO alliance", "Netherlands", "Nikkei 225", "Norway", "S&P 500", "shanghai", "Singapore", "Sweden", "Sydney", "Taiwan", "UK", "United States", "Wall Street", "Wellington"]
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format: "news"
language: "en-GB"
---

# FTSE 100 edges higher as Next and miners offset bank weakness

**Published:** August 5, 2026
**Author:** sharetalk
**Categories:** Blogs, Technology, Technology, Media & Telecoms
**Tags:** Asia, Bangkok, Denmark, Endeavour Mining, Fed, Federal Reserve, Finland, FRANCE, FTSE 100, GERMANY, Glencore, Greenland plan, Hong kong, Japan, London, Manila, mining stocks, Mumbai, Nasdaq Composite, NATO alliance, Netherlands, Nikkei 225, Norway, S&P 500, shanghai, Singapore, Sweden, Sydney, Taiwan, UK, United States, Wall Street, Wellington
**Featured image:** ![](https://i0.wp.com/www.share-talk.com/wp-content/uploads/2026/08/391f4e82-c86d-48ee-b285-fae0c76cce37.png?fit=1725%2C912&quality=80&ssl=1)

---

The **FTSE 100** closed modestly higher on Wednesday as strong gains from **Next** and mining stocks outweighed weakness in Asia-focused financial companies.

The blue-chip index added **8.92 points, or 0.1%, to 10,888.30**, while the **FTSE 250** gained **0.7%** to **24,632.63**. The **AIM All-Share** rose **1.0%** to **781.78**.

Sentiment was supported by stronger-than-expected UK economic data, with the **services PMI** rising to **52.1** in July from **48.8** in June, while the **composite PMI** climbed to **52.2**, signalling a return to business growth as demand for technology services improved and consumer spending showed signs of recovery.

**Next** was the standout blue-chip performer, climbing **5.7%** after raising profit guidance for the 20th time since the start of financial 2024. Full-price sales increased **9.2%** in the second quarter, driven by strong international online demand and better-than-expected trading.

Mining shares also advanced for a second consecutive session as precious metal prices strengthened. **Endeavour Mining** rose **5.7%**, **Fresnillo** gained **4.5%**, and **Glencore** added **4.1%** after announcing a special dividend, a new share buyback programme and plans for an Australian listing.

The main drag on the index came from Asia-focused financial stocks. **Prudential** fell **6.4%**, **HSBC** lost **4.7%**, and **Standard Chartered** slipped **1.6%** following reports that Chinese tax authorities had begun levying personal income tax on returns from offshore insurance policies.

Oil prices continued to ease amid optimism that negotiations between the US and Iran could lead to the reopening of the **Strait of Hormuz**. **Brent crude** declined to **US$79.47 a barrel**, while the **Dow Jones** traded **0.9%** higher in afternoon trading, with the **S&P 500** up **0.2%** and the **Nasdaq** broadly unchanged.

Investors now turn their attention to Thursday’s UK construction PMI, US weekly jobless claims and corporate results from **Admiral**, **Persimmon** and **Diageo**.

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