FX.co ★ FTSE 100 Starts Week Lower

The FTSE 100 experienced a decline of 0.4%, driven by downturns in defensive sectors, which overshadowed the strength found in the mining industry. The healthcare and utilities sectors exerted downward pressure on the index, highlighted by AstraZeneca's 0.9% drop, GlaxoSmithKline's 0.7% decrease, and National Grid's loss of over 1%. Conversely, mining stocks were bolstered as both precious and base metals surged, with records set by gold, silver, and copper. Leading the charge, Endeavour soared 2.4% to a new peak, while Fresnillo saw a 1.7% rise. Glencore increased by 1.6%, with positive movements also noted in Rio Tinto, Anglo American, and Antofagasta. Meanwhile, the final reading of the UK’s Q3 GDP indicated growth of 0.1% month-on-month and 1.3% year-on-year, aligning with expectations and having minimal impact on the market.