FTSE 100 Lower But Mining Stocks Rise Again as Gold Surge Continues

The FTSE 100 edged down 0.1% on Wednesday morning, while wider European markets also softened, with the DAX falling 0.3% and the CAC 40 down 1%.

The declines came despite another strong rally in mining stocks, driven by a continued surge in precious metals prices.

Spot gold climbed to fresh highs, reaching $5,311, extending the strong run that has supported London-listed miners in recent sessions.

Among the top FTSE 100 performers were Endeavour Mining, up 4.2%, Marks & Spencer and Fresnillo, both rising 2.7%, while Anglo American gained 2.6% and Antofagasta rose 1.8%.

On the other hand, GSK and Airtel Africa are both down 1.6%, while AstraZeneca has slipped 1.3%.

In corporate news, Life Science REIT and British Land announced they have agreed on a recommended cash-and-share acquisition.

The deal will be implemented via a court-sanctioned scheme of arrangement. Life Science REIT shareholders will receive 14.1 pence in cash and 0.07 new British Land shares for each share held, valuing the company at approximately £150 million based on British Land’s latest closing share price of 410 pence.

In currency markets, the pound, which hit 1.3869 against the U.S. dollar on Tuesday, eased to 1.3778.

Elsewhere, Debenhams Group shares rose more than 7% after the retailer said it is trading ahead of expectations. The company now expects Adjusted EBITDA for the year to February 2026 to reach £50 million, up from previous guidance of about £45 million.