FTSE 100 Nears 9,000 as Mining Stocks Drive Gains
The FTSE 100 surged today, rising 1.2% in early figures to just below the 9,000 mark, while the FTSE 250 added 0.5%, reflecting continued investor confidence.
Danni Hewson, head of financial analysis at AJ Bell, noted the significance of the milestone:
“It’s remarkable to think that it was only last year when the FTSE 100 finally held above the key 8,000 level. It had briefly touched that peak a year prior but quickly retreated, so seeing it edge closer to 9,000 now feels almost surreal.”
Mining stocks led the rally, giving a strong boost to the index, which has maintained upward momentum for much of the year, aside from a brief dip following Liberation Day.
“Today’s surge has been fuelled by London-listed miners, with investors digesting Donald Trump’s new tariffs on copper,” Hewson explained. “The resulting price spike has created short-term opportunities.”
She added that the U.S. faces a long road in scaling up its copper production and processing capacity, with copper remaining essential for electric vehicles, smartphones, and the power grid:
“Demand in the U.S. isn’t going to ease anytime soon, leaving importers squeezed. In the end, it’s the American consumer who’s likely to bear the cost.”
FTSE 100 Closes at New Record High as Miners Lead the Charge
The FTSE 100 capped off a strong day of trading with a new record closing high, finishing up 108.64 points, or 1.23%, at 8,975.66.
Earlier in the session, the index also hit a fresh intraday peak of 8,979, reflecting growing investor confidence.
Mining stocks powered the rally, with Glencore surging 3.9%, Rio Tinto up 3.9%, and Anglo American gaining 3.7%. Equipment rental group Ashtead also featured among the top risers, climbing 3.8%.
The day’s performance marks another milestone in the FTSE 100’s bullish run, driven by strength in commodities and global optimism despite geopolitical headwinds.
