FTSE 100 Today: Mining Rally and Blockbuster Earnings Push Index Toward Record Highs

Capital at risk. The value of investments can go down as well as up, and you may get back less than you invest.

Here's what's driving the move, which stocks are leading it, and what a broad-based rally like this means for UK investors weighing up shares, funds and ISA allocations.

Why Is the FTSE 100 Rising Today?

The FTSE 100 is rising today because of a combination of a mining sector rally and better-than-expected corporate earnings. Futures indicated the index would open around 27 points higher, or 0.3%, near 10,907, according to a 5 August market forecast report.

Mining Stocks Lead the Charge

Mining stocks did the heavy lifting in Tuesday's session, according to Sharecast News and Trading Economics. Antofagasta rose more than 3.5%, Anglo American climbed 2.5%, and Rio Tinto, Glencore and Endeavour Mining each gained over 2%, supported by stronger commodity prices.

HSBC and Next Beat Earnings Expectations

HSBC reported first-half pre-tax profit of $19.5bn, up 23% from $15.8bn a year earlier and ahead of the $18.9bn analysts had forecast, according to Reuters. The bank resumed share buybacks with a $1bn programme after a three-quarter pause, and CEO Georges Elhedery said the results reflect "the stronger bank we set out to build."

Despite the beat, HSBC shares actually fell on the day — dropping as much as 2% intraday before settling roughly flat to lower, according to Proactive Investors and MarketScreener. Citi analysts noted the new $1bn buyback came in below the roughly $2.2bn consensus expectation, questioning whether HSBC is moving to permanently smaller buybacks. It's a useful reminder that a company beating forecasts doesn't guarantee its share price rises on the day.

Retailer Next PLC also lifted its full-year profit forecast to £1.24bn, citing a 9.2% increase in full-price sales driven by online and international demand, according to market reporting from 5 August 2026.

Which FTSE 100 Stocks Are Rising and Falling Today?

Alongside the mining and banking gainers, energy stocks BP and Shell have faced selling pressure as weaker crude oil prices weigh on their outlook following recent earnings. That's a reminder that even in a broad rally, sector-level divergence is common — a single index move can mask very different stories underneath.

This mix of risers and fallers is typical of a rally driven by several distinct catalysts (mining, banking, retail) rather than one uniform macro trend, which matters when deciding whether to look at the index as a whole or specific stocks within it.

What's Driving the Wider Rally?

Beyond individual results, the FTSE 100 is being lifted by improving global risk appetite. The Dow Jones closed at a new all-time high overnight in the US, and geopolitical tensions in the Middle East have eased after President Trump held off a planned strike on Iran in favour of talks on reopening the Strait of Hormuz. That development has pushed oil prices down, which is a headwind for energy stocks but a broader tailwind for risk sentiment.

Monday told a different story. The FTSE 100 dipped as AstraZeneca fell more than 6% on reports of early merger talks with US drugmaker Bristol Myers Squibb, and energy stocks slipped on the same oil-price moves that are now supporting sentiment elsewhere. That volatility is a useful reminder that daily index moves often reflect several unconnected stories landing at once.

What Does This Mean for UK Investors?

A rally spread across mining, banking and retail is different from one driven by a single mega-cap stock — it says something about breadth, not just momentum. For investors building a diversified UK equity portfolio, that breadth can be a more encouraging signal than a narrow, one-stock-driven rise.

Past performance is not a reliable indicator of future results, and a strong week doesn't guarantee the rally continues. Investors focused on long-term goals may look at broad FTSE 100 exposure through a fund or index product, inside a tax-efficient wrapper, rather than trying to time individual earnings reactions.

Tax treatment depends on individual circumstances and may be subject to change. Seek independent advice.

How to Get Exposure to the FTSE 100

There are several ways UK investors and traders can respond to a move like today's:

• Share dealing — buy individual shares in companies like HSBC, Next or the mining majors directly.
• Stocks and Shares ISA — hold FTSE 100 shares or funds inside a tax-efficient wrapper.
• Index trading — trade the FTSE 100 index itself via CFDs or spread betting, without owning the underlying shares.
• Commodities exposure — trade the metals behind the mining rally directly, such as copper or iron ore, via CFDs.

Trading FTSE 100 index products or commodities via CFDs or spread betting involves leverage. Losses can exceed your initial deposit when trading with leverage.

• The FTSE 100 is a market-cap-weighted index, so large moves in heavyweight stocks like HSBC have an outsized effect on the headline number.
• Mining and energy stocks tend to be more sensitive to commodity price swings than other FTSE 100 sectors.
• Broad rallies across multiple sectors are generally seen as more durable than narrow, single-stock-driven moves — though neither guarantees future performance.

FAQ

Past performance is not a reliable indicator of future results.

Tax treatment depends on individual circumstances and may be subject to change. Seek independent advice.