FTSE 100 Index Gains; BHP No Longer Considering Anglo American Deal

The FTSE 100 rose 0.5% in early Monday trading at 9,588.65 as European markets advanced, helped by the positive finish on Wall Street at the end of last week. 

Elsewhere, Germany’s DAX is up, with a 1.1% gain, while France’s CAC 40 added 0.3% and US index futures are pointing higher.

Endeavour Mining was the strongest performer in the FTSE 100, rising 4.2%, followed by Standard Chartered at 3.2% and Fresnillo at 2.9%. 

On the downside, National Grid slipped 1.5%, SSE fell 1.4% and Babcock International declined 1.3%.

In corporate news, BHP revealed that it is no longer considering a takeover bid for Anglo American. 

The company said that while it continues to believe that a combination with Anglo American would have had strong strategic merits and created significant value for all stakeholders, it  “is confident in the highly compelling potential of its own organic growth strategy.”

The miner had revived its interest earlier this year as Anglo progressed toward completing a merger with Canada’s Teck Resources. BHP previously failed in a bid for Anglo American in 2024. Shares in Anglo American dipped 0.5% following the update.

Elsewhere, AstraZeneca announced plans to expand its U.S. manufacturing footprint with a $2 billion investment in the state of Maryland. 

The move marks a significant step in strengthening the company’s production capabilities in the country.