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FTSE 100 up 0.2%; FTSE 250 up 0.5%

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BP appoints Albert Manifold as chairman

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Oxford Nanopore ( ONTTF ) jumps on higher HY rev expectations

(Updates with market closing prices)

By Sukriti Gupta

July 21 (Reuters) - The UK's FTSE 100 closed higher on Monday, led by

gains in mining stocks, with investor focus on the Bank of England's policy

path.

The internationally oriented FTSE 100 closed 0.2% higher.

Precious metal miners rose 3.4% to lead the gains among UK

sectors, tracking a rise in gold prices. Endeavour Mining ( EDVMF ) gained 4.1%,

while Fresnillo advanced 3.6%.

Industrial miners rose 3.1%, tracking a rise in iron ore and

steel prices after China announced the start of construction on its mega-dam

project in Tibet, which is expected to drive significant demand for

construction-grade steel.

Glencore ( GLCNF ) gained 3%, Anglo American rose 3.3%, Antofagasta ( ANFGF )

advanced 4.7%, and Rio Tinto up 2.7%.

Media stocks were the laggards on the index with a 1.1% fall.

Informa ( IFPJF ) fell 1.7%.

The aerospace and defence index lost 1%, led by a 2% fall

in BAE Systems.

The domestically oriented midcap FTSE 250 index rose 0.5%, with

biotech group Oxford Nanopore Technologies ( ONTTF ) rising 19.2%, highest since

January 2024, on higher half-year revenue expectations.

Conversely, MONY Group fell 6.9% after the British price

comparison platform's first-half gross margin dropped to 66% from 68% a year

ago.

Traders are currently pricing an 85% chance of a 25-basis-point BoE cut

next month, as per data compiled by LSEG.

Meanwhile, a Deloitte survey showed British consumer sentiment had a marked

fall for the first time in nearly three years last month, reflecting increased

worries about job security.

The Bank of England has asked some lenders to test their resilience to

potential U.S. dollar shocks, three sources told Reuters.

In corporate updates, BP named Albert Manifold, the former boss of

building materials producer CRH, as its new chairman on Monday.

The Financial Times reported on Sunday that London Stock Exchange Group ( LDNXF )

is weighing whether to launch 24-hour trading and is looking into the

practicalities of increasing its trading hours. Shares of LSEG were down 1.6%.