Published by Global Banking & Finance Review®
Posted on December 23, 2025
2 min readLast updated: January 20, 2026
Add as preferred source on GoogleFTSE 100 rose 0.3% as miners surged on record copper prices. Anglo American led gains, while banks like HSBC also performed well amid thin trading.
Dec 23 (Reuters) - London's FTSE 100 ended higher on Tuesday, supported by gains in shares of banks and miners amid thin trading volume ahead of the Christmas break.
The UK's blue-chip FTSE 100 closed 0.3% higher, extending its upward momentum from last week after the Bank of England's 25-basis-point interest rate cut pushed the index to a five-week high.
The domestically focussed midcap FTSE 250 index added 0.1%.
Trading volumes typically decrease during the holiday-shortened week. Markets will close early on Wednesday, and remain shut on Thursday for Christmas Day and on Friday for Boxing Day.
Miners Anglo American rose 2.6% along with Antofagasta and Rio Tinto, adding 1.8% and 1.1%, respectively, as copper prices surged to a record high, crossing the $12,000 mark.
Anglo American also benefitted from Wells Fargo initiating coverage with an equal weight rating and a target price of $17.
Lenders HSBC and Barclays added 0.7% and 0.8%, respectively.
Miners and financial stocks, along with defence stocks, were the biggest drivers of the FTSE 100's gains this year, which is up 16% year-to-date.
Similarly, pan-European STOXX 600 and Wall Street's benchmark S&P 500 index have also gained about 16% each so far.
Healthcare stocks climbed 0.4% in the session, mirroring gains in European peers, after heavyweight Novo Nordisk clinched the U.S. approval of its weight-loss pill.
Metlen Energy and Metals was up after the real estate investment trust completed a renewables transaction in Chile.
Weighing on the FTSE 100 index, Diageo dropped 1.8%, extending its slide to a second session, while Compass Group fell 1.2%.
(Reporting by Tharuniyaa Lakshmi in Bengaluru; Editing by Vijay Kishore)
The FTSE 100 is a stock market index that represents the 100 largest companies listed on the London Stock Exchange, measured by market capitalization.
Mining stocks are shares of companies involved in the extraction of minerals and resources, such as metals and coal, which can be influenced by commodity prices.
An interest rate cut is a reduction in the rate at which a central bank lends money to commercial banks, aimed at stimulating economic activity by making borrowing cheaper.
Trading volumes refer to the total number of shares or contracts traded for a specific security or market during a given period, indicating market activity.
The Bank of England is the central bank of the United Kingdom, responsible for monetary policy, issuing currency, and maintaining financial stability.
Explore more articles in the Finance category
