FTSE 100 Lower: Mining Stocks Decline as Gold and Silver Extend Fall

The FTSE 100 slipped around 0.2% on Monday morning, weighed down by sharp losses in mining shares as precious metals continued their retreat. Germany’s DAX edged up 0.1%, while France’s CAC 40 dipped 0.1%.

Spot gold fell 5.4%, and spot silver dropped 7.2%, extending last week’s decline and dragging the mining sector lower. Fresnillo and Endeavour Mining were the biggest fallers on the blue-chip index, down 7.7% and 7.5% respectively. Antofagasta slid 5%, while Anglo American dropped 3.7% and Glencore lost 3.4%. All five sat at the bottom of the FTSE 100 in early trading.

Oil prices added further pressure , with Brent crude down 5% at about $65.85 a barrel. The slump pushed BP shares 2.5% lower and Shell down 2.1%.

AstraZeneca is also in focus as its shares begin trading on the New York Stock Exchange alongside its London and Nasdaq Stockholm listings. The move expands the company’s access to the world’s largest capital market and opens the door for greater participation from U.S. investors as it pursues its growth strategy.

On the more positive side, Unilever has risen 2.1%, making it the FTSE 100’s top performer. Beazley has climbed 1.9%, while InterContinental Hotels Group has added 1.6%, so far in the session.