---
title: "FTSE 100 rises as miners offset BP weakness"
publisher: "Share Talk"
author: "sharetalk"
published: "2026-08-04T16:13:12+00:00"
modified: "2026-08-04T16:13:12+00:00"
date: 2026-08-04
canonical: "https://www.share-talk.com/ftse-100-rises-as-miners-offset-bp-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 rises as miners offset BP weakness

**Published:** August 4, 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/2023/11/LONDON-10_11_23.jpg?fit=1200%2C800&ssl=1)

---

The **FTSE 100** edged higher on Tuesday as optimism over renewed Middle East diplomacy pushed oil prices lower, offsetting weakness in the energy sector and boosting mining stocks.

The blue-chip index closed **21.68 points higher (+0.2%) at 10,879.38**, while the **FTSE 250** gained **1.0%** to **24,459.30** and the **AIM All-Share** rose **0.8%**.

Investor sentiment improved after US Treasury Secretary **Scott Bessent** said a deal to reopen the **Strait of Hormuz** could be reached within days, easing concerns over global energy supplies. As a result, **Brent crude** fell towards **US$80 a barrel**, retreating from recent highs.

The weaker oil price weighed on energy majors, with **BP** falling **4.9%** and **Shell** declining **2.5%**.

BP’s shares slipped despite reporting better-than-expected second-quarter earnings. Underlying replacement cost profit before interest and tax climbed to **US$10.3 billion**, ahead of market expectations, while new chief executive **Meg O’Neill** outlined plans to simplify the portfolio, strengthen the balance sheet and improve operational performance.

Mining stocks provided the strongest support for the index as higher gold, silver and copper prices lifted the sector. **Antofagasta** surged **6.9%**, **Anglo American** gained **5.5%**, and **Endeavour Mining** added **3.4%**.

On the FTSE 250, **Travis Perkins** jumped **18%** after reporting better-than-expected interim profits and highlighting encouraging progress in its operational turnaround.

In contrast, **Smith & Nephew** was the biggest FTSE 100 faller, dropping **6.3%** after lowering its full-year sales growth guidance following weaker-than-expected demand for hip and knee implants in the United States.

Wall Street also traded higher, with the **Dow Jones** rising **1.6%**, the **S&P 500** gaining **1.3%** to a fresh record high, and the **Nasdaq** advancing **1.9%** as investors positioned for another busy round of corporate earnings.

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