FX.co ★ FTSE 100 Trades Higher Led by Precious Miners, AstraZeneca

On Monday, the FTSE 100 saw an upward movement, primarily driven by substantial gains in the precious metals sector and support from AstraZeneca. Fresnillo experienced a notable rise of 6.1%, while Endeavour Mining increased by 5.2%, fueled by a rejuvenated interest in gold—reaching new record highs—and silver approaching $52. Producers of base metals also reaped the benefits of soaring metal prices, with Anglo American climbing 2%, Antofagasta 1.9%, Glencore 1.3%, and Rio Tinto 1.1%. AstraZeneca's shares rose by over 0.5% following an agreement to lower certain drug prices in the US in return for three years of tariff relief, a development emphasized by President Trump as part of efforts to reduce consumer medicine costs. The company committed to pricing new releases in the US at levels comparable to those in peer nations and expanding its provision of discounted access through Medicaid. In the financial sector, Lloyds Banking Group advanced by more than 1% after announcing its intention to engage with the Financial Conduct Authority concerning its proposed motor finance compensation scheme, cautioning that the potential costs might surpass previous estimates.