FX.co ★ FTSE 100 Rises Toward Record High

The FTSE 100 rose around 0.5% on Tuesday, edging back toward record highs as a strong rally in mining stocks offset subdued moves in several heavyweight constituents. Antofagasta led the mining sector with a gain of more than 3.5%, while Anglo American advanced 2.5%. Rio Tinto, Glencore, and Endeavour Mining each added over 2%, buoyed by firmer commodity prices.

HSBC, the index’s largest member, traded only slightly higher despite reporting better-than-expected earnings and unveiling a new $1 billion share buyback. BP also recorded modest gains after delivering quarterly results that topped market forecasts.

By contrast, Smith & Nephew was among the session’s worst performers, dropping more than 7% after cutting its full-year sales growth guidance, citing temporary softness in its US orthopaedics business, which weighed on its second-quarter results.