09.09.202507:24:55UTC+00Anglo American Boosts FTSE 100

On Tuesday, the FTSE 100 experienced gains for the second day in a row, driven by strong performances in the mining sector and positive retail data. A major development was the announcement of Anglo American's merger with Canada's Teck, a deal recognized as one of the largest in the mining sector's history. This news was well-received by investors, leading to a more than 5% increase in Anglo American's shares. Fellow mining companies, including Glencore and Antofagasta, saw their shares rise by over 2%, and Endeavour's shares appreciated nearly 2% as gold prices reached new highs. Economically, UK retail sales exceeded expectations in August, as reported by the British Retail Consortium. Like-for-like sales grew by 2.9%, up from July's 1.8% and significantly surpassing the anticipated 2%, bolstering economic optimism with wage growth continuing to outpace inflation. In the meantime, in Europe, French Prime Minister François Bayrou failed to secure a parliamentary confidence vote and is anticipated to resign today.