FX.co ★ FTSE 100 Eyes Sixth Quarterly Gain as Miners Rally

The FTSE 100 advanced on Tuesday and is on track for a sixth consecutive quarterly gain, rising 3.4% so far in Q2 after a 2.5% increase in Q1—its strongest winning streak since 2022. The rally was led by a robust mining sector, supported by geopolitical optimism and higher metal prices. Anglo American, Glencore, and Antofagasta each gained more than 2%, while Rio Tinto rose 1.9% and Fresnillo added 0.7%. Other notable risers included AstraZeneca, up 1%, and Lloyds Banking Group, up 1.2%. J Sainsbury advanced 1.9%, buoyed by solid food sales and recent UK heatwaves. Barclays also moved higher after unveiling a £750 million deal for its headquarters. However, overall gains were tempered by weaker oil prices ahead of US–Iran talks, which weighed on BP and Shell. On the macro front, revised data showed annual UK GDP growth was lowered to 0.9%, although quarterly growth aligned with expectations at 0.6%, and shop price inflation remained unchanged at 1.2%.