FTSE 100

Key insight

Mining stocks (Antofagasta +3.5%, Anglo American +2.5%) and HSBC's blowout H1 earnings are the engine of today's move — the FTSE's commodity-heavy composition is a direct beneficiary of gold and silver surging (Gold +0.6% to $4,078, Silver +2.5% to $59.6) even as crude oil slides on US–Iran diplomatic progress.

The FTSE 100 is holding above the psychologically critical 10,000 milestone and extending July's 3.5–4.5% rally, underpinned by mining sector strength and HSBC's $1bn buyback announcement, keeping price within reach of the 2026 all-time highs near 11,000.

Main risk

AstraZeneca M&A uncertainty & Energy sector drag

AstraZeneca (-6% on Monday on BMS merger rumours) and energy names Shell/BP face continued headwinds from Brent crude sliding ~5% to ~$74.6/bbl on US–Iran détente, together representing over 12% of FTSE 100 index weight.