FX.co ★ FTSE 100 Edges Down on Monday

The FTSE 100 experienced a decline on Monday as renewed trade tensions emerged with the impending expiration of U.S. President Trump’s 90-day tariff pause set for Wednesday. The UK is racing to secure an agreement with the U.S. to remove tariffs on British steel, as concerns mount that the levy could escalate to 50%, posing a threat to the already delicate domestic steel sector. Leading the overall market downturn were energy stocks, following Shell's announcement of a less-than-optimistic second-quarter outlook, attributed to weaker performance in gas trading. Shares of Shell dropped nearly 2.5%, while BP saw a decline of about 2%. Despite encouraging housing data from Halifax, homebuilders acted as a drag on the index, with both Persimmon and Taylor Wimpey slipping approximately 1%. The mining sector was also under pressure, driven by declining copper and gold prices, impacting companies such as Glencore, Anglo American, Endeavour, and Fresnillo, which saw reductions ranging from 0.4% to 1.6%.