Published by Global Banking & Finance Review®
Posted on September 1, 2025
2 min readLast updated: January 22, 2026
Add as preferred source on GoogleUK stocks closed slightly higher, led by precious metal miners and defence stocks, despite losses in utilities. FTSE 100 rose 0.1%.
(Reuters) -London equities closed slightly higher on Monday, helped by precious metal miners and defence stocks, but losses in utilities kept gains in check.
The blue-chip FTSE 100 closed 0.1% higher, following its biggest weekly decline in almost five months on Friday. The domestically focussed mid-cap index rose 0.1%.
Defence stocks advanced after Norway said it had chosen Britain as its strategic partner for the acquisition of new frigates, in a deal worth some 10 billion pounds ($13.51 billion).
BAE Systems rose 1.9%, Babcock advanced 2.1%, while Rolls-Royce gained 2.8%.
Precious metal mining stocks gained 3.3%, tracking higher gold prices. Hochschild Mining rose 6.7%, Fresnillo and Endeavour Mining added 2.1% and 3.5%, respectively. [GOL/]
The FTSE 100 hit a record high in August, as global shares rallied on rising bets on a U.S. rate cut in September, but at the end of the month registered four straight sessions of declines.
Heavyweight banking stocks, which fell on Friday after a think-tank recommended a new tax on lenders as a possible way for finance minister Rachel Reeves to raise revenue, rebounded slightly on the day with several analysts saying the sharp falls last week were overdone.
NatWest was up 1.2% and Barclays rose 1.9%.
On the flip side, utility stocks fell, with SSE down 3.1%, while National Grid and United Utilities fell 2.1% and 2.5%, respectively.
Personal goods and industrial mining stocks also declined.
Among corporate updates, IT software developer Kainos jumped 22.5%, to top the mid-cap index, on an upbeat annual outlook.
Domino's Pizza Group rose 8.8% on reaffirming its annual earnings forecast and launching a new share buyback.
A survey showed Britain's manufacturers suffered a fresh setback in August with new orders dropping due to worries about trade tensions abroad and tax increases at home.
Meanwhile, a U.S. appeals court ruled on Friday that most of U.S. President Donald Trump's tariffs are illegal, although it allowed them to remain in place until mid-October to permit further appeals.
Trump has vowed to take the case to the Supreme Court and trade experts say the administration is preparing alternative plans to be able to proceed with its tariffs.
U.S. markets were closed for a holiday.
(Reporting by Sukriti Gupta; Editing by Mrigank Dhaniwala and Ros Russell)
UK stocks closed slightly higher, supported by gains in precious metal miners and defence stocks, despite losses in utilities.
Defence stocks like BAE Systems, Babcock, and Rolls-Royce rose by 1.9%, 2.1%, and 2.8%, respectively, after Norway selected Britain as a strategic partner for frigate acquisitions.
Heavyweight banking stocks rebounded slightly after falling due to a think-tank's recommendation for a new tax on lenders, with NatWest up 1.2% and Barclays rising 1.9%.
Utility stocks fell, with SSE down 3.1% and National Grid and United Utilities declining by 2.1% and 2.5%, respectively.
A survey indicated that Britain's manufacturers faced setbacks in August, with new orders dropping due to concerns over trade tensions and tax increases.
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