FX.co ★ FTSE 100 Edges Down, Posts Best Month Since January

On Thursday, the FTSE 100 experienced a slight downturn, relinquishing earlier gains due to declines in European markets and significant losses among mining companies affecting overall market sentiment. A surprising decision by President Donald Trump to exempt refined copper from new U.S. tariffs caused disruptions in copper markets. As a result, key mining companies saw substantial declines: Antofagasta fell by over 5.5%, Anglo American by nearly 4%, Glencore by 2.6%, and Rio Tinto by more than 2%. The biggest loser of the day was packaging group Mondi, dropping over 6% following its caution regarding challenging trading conditions. The London Stock Exchange Group also declined nearly 8%. Despite the downturn in the materials sector, earnings results were mostly positive. Rolls-Royce surged over 9% to reach an all-time high after upping its forecasts, receiving commendations from analysts for its "very strong" performance. Shell climbed over 2% after announcing a share buyback, despite a dip in profits, while British American Tobacco grew by more than 1%. Reflecting on July's performance, the UK index increased by over 4%, marking the strongest monthly gain since January.