FX.co ★ UK Stocks Enter December on Weak Note

The FTSE 100 index in London finished approximately 0.2% lower at 9,703 on the first trading day of December. This downturn follows a series of four consecutive gains in the last week of November, prompting a more cautious approach among investors. Simultaneously, market participants evaluated lackluster global manufacturing data. Domestically, the final PMI survey for November indicated a return to growth in the UK's factory activity for the first time since September 2024, although the expansion remained minimal. Notably, aerospace company Melrose Industries saw a nearly 5% decline in its shares after announcing the resignation of its Chief Financial Officer, Matthey Gregory. The defense sector also faced challenges, with BAE Systems, Rolls-Royce, and Babcock experiencing declines amid hopes for peace in Ukraine. Conversely, Fresnillo, a precious metals miner, gained nearly 6% as gold and silver prices increased. Additionally, mining companies Antofagasta, Glencore, and Anglo American benefited from rising copper prices, contributing to their share price gains.