UK's FTSE 100 steadies after worst week since April as miners gain

According to Business Recorder, the FTSE 100 gained 0.19 per cent to 10,481.20 points at 1018 GMT on Monday, recovering some ground after its steepest weekly fall since April. Mining stocks led the rise, with precious metal miners up 0.55 per cent as spot gold added 0.35 per cent and silver climbed 2.06 per cent. The midcap FTSE 250 slipped 0.32 per cent to 24,114.77 points.

Brent crude slipped 0.19 per cent to $102.04 a barrel in uneven trading, as Middle East shipments grew and the G7 bloc promised more supply. Investors also remained wary of the fighting in Yemen, pitting the internationally recognised government against Iran-backed Houthis. British services companies reported heavier expenses last month, with fuel costs climbing sharply, according to a survey released Monday. Traders put the odds of a borrowing-cost increase at the November central bank meeting near 95 per cent, LSEG data show.

Ithaca Energy was the top gainer on the index, rising 3.5 per cent after it agreed to buy Suncor Energy's offshore oil assets for $842 million paid upfront. AJ Bell investment director Russ Mould said the transaction gives UK oil and gas producers some diversification, after repeated complaints about shifting tax and regulatory rules. Meanwhile, 3i Group dropped 4.4 per cent, reaching its weakest point since late June.