London’s blue-chip FTSE 100 closed at a record high on Monday, driven by gains in oil giant BP and a boost from rising precious metal mining stocks.
BP led the way, surging 7.4%—its strongest daily performance in two years—after investor Elliott Management acquired a stake in the company, with expectations that it will advocate for strategic and boardroom changes.
The energy sector advanced by about 2.1% as global oil prices ticked higher, recovering from three consecutive weeks of declines.
The mining sector also performed strongly, increasing roughly 3.6% as gold prices continued to hit record levels amid heightened safe-haven demand triggered by trade war and inflation concerns following Donald Trump’s tariff move.
Britain’s largest renewable power generator, Drax, saw its shares rise approximately 3.8% after finalizing a subsidy deal with the UK government covering the period from 2027 to 2031.
Overall, the FTSE 100 climbed 0.8%, while the more domestically focused FTSE 250 advanced 0.9%. Across Europe, the Stoxx 600 index ended the day 0.6% higher, as investors dismissed concerns over Trump’s tariff measures.
