28.09.202615:34:06UTC+00FTSE 100 Edges Up Slightly

The FTSE 100 inched higher on Monday as sharp gains in housebuilders and energy stocks were largely offset by broad-based weakness across the mining sector. Barratt Redrow surged 12%, while Howden Joinery climbed more than 3% after the Labour government announced plans for an updated version of the Help-to-Buy equity loan scheme, lifting sentiment toward UK housing-related shares.

Energy stocks also advanced, with both Shell and BP up more than 1% as oil prices firmed amid the continuing standoff between the US and Iran. Market mood remained cautious, however, with optimism over a near-term diplomatic breakthrough in the Middle East conflict fading.

Mining shares came under pronounced pressure. Fresnillo dropped more than 5% and Endeavour Mining slid over 4% as softer gold prices weighed on precious-metals producers. Copper prices also declined, adding to the drag on the sector. Antofagasta, Anglo American and Glencore each fell by around 2%, curbing the overall advance in the FTSE 100.