FX.co ★ FTSE 100 Trades Near Record on Monday

The FTSE 100 traded 0.3% higher on Monday, hovering near record territory above 10,470, as renewed risk appetite boosted banking and financial stocks despite weakness in miners and utilities. Banks led the advance, with NatWest gaining more than 3.5%, Barclays rising over 2%, and HSBC Holdings and Standard Chartered each up around 2% as investors rotated back into riskier assets. The rebound came after a challenging week for UK lenders, when earnings reports disappointed following strong rallies earlier in the year, driven in part by share buybacks.

By contrast, mining stocks weighed on the index as metal prices eased, with Rio Tinto, Glencore and Anglo American among the main laggards. Utilities also underperformed, as the shift toward riskier assets reduced demand for defensive names, pushing National Grid and SSE lower.