CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 75-95% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Open platformOpen platform

London's FTSE 100 climbs over 1% as firmer gold prices boost miners

By Reuters News

Nov 9 (Reuters) - Britain's FTSE 100 closed more than 1% higher on Monday as lower oil prices helped ease inflation worries and rising gold prices lifted the stocks of precious metal miners, while investors assessed the UK's latest jobs report.

The blue-chip FTSE 100 index .FTSE rose 1.02% to 10,782.87 points, while the midcap FTSE 250 .FTMC was up 0.8%.

  • Precious metal miners .FTNMX551030 rose 4.5%, tracking higher gold prices, with Fresnillo , Antofagasta ANTO.L and Anglo American AAL.L among the benchmark index's top gainers

  • Gold prices were up 1% after lower oil prices eased inflation concerns, while investors awaited US inflation data due later this week that could shape expectations for the Federal Reserve's rate path GOL/

  • Although gold is typically seen as an inflation hedge, higher interest rates tend to reduce the appeal of non-yielding bullion

  • Brent crude fell more than 4%, weighing on energy stocks .FTNMX601010, after US President Donald Trump said renewed strikes on Iran were unlikely, although attacks on ships near the Strait of Hormuz continued to fuel supply concerns O/R

  • On the data front, Britain's jobs market cooled in October, but starting salaries for permanent jobs rose at a faster pace, according to a survey of recruiters published on Monday

  • The BoE raised interest rates by a quarter point to 4% last week and its policymakers warned that at least one more increase was likely if the US-Iran conflict continued. Traders expect at least two 25-basis-point hikes in 2027, according to LSEG data

  • Among individual stocks, Kainos Group KNOS.L fell 12.4% and was the worst performer on the midcap index after the IT software provider kept its H2 guidance unchanged

  • London-listed shares of Georgia's TBC Bank TBCG.L rose 9.8% and it was the best performer on the midcap index after the firm posted a higher third-quarter net profit on Friday

Capital.com is an execution-only brokerage platform and the content provided on the Capital.com website is intended for informational purposes only and should not be regarded as an offer to sell or a solicitation of an offer to buy the products or securities to which it applies. No representation or warranty is given as to the accuracy or completeness of the information provided.

The information provided does not constitute investment advice nor take into account the individual financial circumstances or objectives of any investor. Any information that may be provided relating to past performance is not a reliable indicator of future results or performance.

To the extent permitted by law, in no event shall Capital.com (or any affiliate or employee) have any liability for any loss arising from the use of the information provided. Any person acting on the information does so entirely at their own risk.

Any information which could be construed as “investment research” has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication.