FTSE 100 Climbs as Mining Shares Surge Amid Economic Speculations

The UK's FTSE 100 rose on Monday, driven by mining shares. Investors eagerly await this week's GDP data to gauge the Bank of England's policy stance. Mining shares like Glencore and Rio Tinto boosted sectoral gains, while the UK labor market showed signs of slowing after the new Labour budget.

The UK's benchmark FTSE 100 saw an upswing at the beginning of the week, largely powered by an increase in mining shares. Investors are closely watching the upcoming domestic GDP data to assess future directions in the Bank of England's policy.

By Monday morning, the FTSE 100 had edged 0.3% higher, with a stalemate observed in the midcap FTSE 250. European stocks marked their position near six-week highs, propelled by prospects of fresh economic stimulus from China. Notably, shares in major mining companies including Glencore, Antofagasta, and Rio Tinto experienced gains of up to 3.3%, driving overall sector growth.

Concurrently, the energy sector posted a 1.2% rise, fueled by climbing oil prices following the fall of Syrian President Bashar al-Assad's regime, adding uncertainty to the Middle East terrain. Personal goods bolstered the growth, adding 1.6%, whereas the aerospace and defense sector detracted with a 1.1% decline.

(With inputs from agencies.)