FTSE 100 today: Index rises amid tariff threat; pound slips; mining stocks rise

Investing.com -- The British pound slipped to $1.34 on Monday from over $1.36 last week, while British stocks closed higher and European markets were mostly lower after U.S. President Donald Trump threatened 30% tariffs on imports from Mexico and the EU.

The blue-chip FTSE 100 index gained 0.7%, while Germany’s DAX index slipped and France’s CAC 40 each dropped 0.3%.

U.K. miners rally as silver hits 14-year high

U.K. mining stocks climbed, lifted by a surge in silver prices to levels not seen in nearly 14 years.

Shares of Fresnillo (LON:FRES) and Hochschild Mining (LON:HOCM) gained as silver rose 1.3% to $39.45 an ounce earlier in the session, its highest since 2011, as investors turned to safe-haven assets amid escalating global trade tensions.

However, silver has declined since its earlier high and is now down around 0.4%.

Ashmore reports $1.4 billion increase in AUM

Ashmore Group (LON:ASHM) reported a $1.4 billion increase in assets under management (AuM) during the fourth quarter, bringing total AuM to $47.6 billion as of June 30.

The gain was driven by $2.2 billion of investment performance, partially offset by $0.8 billion of net outflows.

Fixed income AuM rose to $38.5 billion from $37.8 billion in the prior quarter, while equities increased to $7.5 billion from $6.8 billion. Flows were positive in equities, flat in external debt and alternatives, and slightly negative across blended debt, local currency, and corporate debt themes.

AstraZeneca (NASDAQ:AZN) climbs on promising BP (NYSE:BP) (LON:BP) drug trial

In other market news, AstraZeneca (LON:AZN) shares rose 2% after the company announced its experimental drug baxdrostat successfully lowered high blood pressure in a late-stage study of people with hard-to-treat conditions.

The drug met both main and secondary goals at two dosages, showing a statistically significant and clinically meaningful reduction in systolic blood pressure at 12 weeks when given with standard treatment, compared with placebo.

Elixirr shares jump as first-half revenue climbs

Meanwhile, British consultancy firm Elixirr International (LON:ELIX) gained 3.7%.

The company reported that first-half revenue increased 35% year-over-year, and its board remains confident that full-year results will align with market expectations.

U.K. recruitment slump deepens

UK hiring data showed permanent staff appointments fell at the fastest pace in 22 months in June, according to the Recruitment and Employment Confederation and KPMG.

The number of available workers jumped by the most since 2020, while salary growth for permanent roles cooled and vacancies fell, with the retail sector experiencing the biggest impact.

Aurelius buys DCC’s IT division

In corporate moves, distribution group DCC (LON:DCC) sold its information technology division to investment firm Aurelius for a total enterprise value of around £100 million.

GSK’s RSV drug extension gets U.S. review

GSK (LON:GSK) announced its application to extend the use of its Arexvy RSV drug in the US has been accepted for review.