24.08.202607:31:14UTC+00FTSE 100 Struggles for Direction

The FTSE 100 hovered around the flatline on Monday, as strength in mining stocks was offset by weakness in the energy and healthcare sectors. Oil majors Shell and BP retreated as crude prices eased, with investors awaiting details of a US plan to ratchet up economic pressure on Iran. Treasury Secretary Scott Bessent was expected to outline the measures later in the day and press US allies to back the initiative.

Healthcare shares also dragged on the index, with AstraZeneca slipping around 1% and GSK down 0.5%. By contrast, miners lent support, buoyed by higher precious-metals prices, firm iron ore and elevated copper prices. Antofagasta rose about 1%, while Anglo American and Fresnillo each added more than 0.5%.

Sentiment toward the mining sector was further underpinned by gains in Swedish steelmaker SSAB, which climbed roughly 4% after a proposed US-Canada trade agreement—one that would have reduced tariffs on Canadian steel—collapsed.