Mining Stocks Lead FTSE 100 Gains as US-Iran Peace Deal Sparks Metal Price Surge

Mining stocks dominated the FTSE 100 leaderboard on Monday, with gold, silver and copper prices surging in the wake of a landmark US-Iran peace agreement that has reshuffled the global commodity deck.

Endeavour Mining (LON: EDV) was the standout performer, rising 7.2% to 4,106p, while Fresnillo (LON: FRES) gained 6.6% to 3,200p per share. Antofagasta (LON: ANTO) was the next top gainer in the indexclimbing 6.08% to 4,290p — its biggest single-session move in months.

Meanwhile, BHP Group added 2.23%, Anglo American rose 2.15% to 4,088p, and Rio Tinto ticked up 1.41%.

The catalyst was a breakthrough deal between Washington and Tehran, which included lifting the blockade and reopening the Strait of Hormuz.

Gold surged above $4,300 per ounce, with SP Angel analysts noting that “gold leads precious metals higher in the wake of the US-Iran peace breakthrough.”

The deal eased inflationary pressures and amplified expectations of US Federal Reserve rate cuts, underpinning bullion’s remarkable 2026 rally. Silver climbed sharply alongside it. Copper, meanwhile, pushed higher on a separate dynamic — intensifying supply concerns outside the US — delivering a particular boost to copper-heavy Antofagasta.

Oil told a starkly different story, sliding to a two-month low as traders priced in the return of Iranian crude exports. That weighed on Glencore, which bucked the mining sector trend and fell around 1%, reflecting its exposure to oil trading.

For investors, the session underscored a defining theme: when metals move, London’s mining-heavy FTSE 100 moves with them.