The FTSE 100 edged slightly above the flatline at the 8,080 level on Monday, recovering from last week's subdued finish as investors assessed recent earnings reports and the economic outlook for the UK.
UK shares higher at midday
Leading the gains were heavyweight mining stocks, with Anglo American, Glencore, and Rio Tinto each rising over 1% as prices for ferrous and base metals strengthened.
Shares of Melrose surged nearly 8% after the company reaffirmed its outlook and provided strong cash flow guidance for the coming year, driven by robust market demand. GSK also gained over 1%, recovering some of Friday's losses following President-elect Trump's unexpected nomination of Robert Kennedy Jr., a known vaccine skeptic, to lead the Department of Health and Human Services.
Property stocks fall
Conversely, the property sector faced pressure, with homebuilders like Taylor Wimpey, Land Securities, and British Land all declining around 1%. This downturn followed data from Rightmove indicating a 1.4% drop in UK home prices for November, reflecting ongoing challenges in the housing market.
