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FTSE 100 edges to record close as strong copper boosts miners
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FTSE 100 edges to record close as strong copper boosts miners
Jul 22, 2025 10:02 AM

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FTSE 100 up 0.1%, FTSE 250 down 0.4%

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Centrica ( CPYYF ) rises after UK greenlights Sizewell C nuclear

plant

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Compass raises profit forecast, buys Vermaat in $1.8 bln

deal

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Greencore ( GNCGF ) surges after annual profit outlook rise

(Recasts with record close, updates prices after market close)

By Sukriti Gupta

July 22 (Reuters) - Britain's blue-chip FTSE 100 index

rose on Tuesday to a record close for a second straight

session, driven once again by gains in the heavyweight mining

sector on the back of strong copper prices.

The FTSE 100 closed up 0.1% at 9,023.81 points, notching up

a record even as the domestically oriented midcap FTSE 250

lost 0.4%.

Data showed Britain borrowed more than expected in June as a

jump in inflation pushed up the government's debt costs.

British finance minister Rachel Reeves said that the country

continued to depend on "the goodwill of strangers" to cover

shortfalls in its public finances and that she would focus on

bringing down the cost of borrowing.

Industrial miners led sectoral gains with a

2.3% rise, tracking copper prices which were buoyed by

hopes for firmer Chinese demand. Glencore ( GLCNF ) rose 3.1%,

Rio Tinto was up 2.2%, and Antofagasta ( ANFGF ) added

1.8%.

By contrast, the aerospace and defence index

led sectoral losses, falling 1.9%.

In company news, food catering firm Compass Group ( CMPGF )

rose 5.4%, after it agreed to buy European premium food services

business Vermaat Groep for about 1.5 billion euros ($1.8

billion), including debt, and also raised its annual profit

forecast.

Energy firm Centrica ( CPYYF ) surged 4.8% after Britain

approved the 38 billion pound ($51 billion) Sizewell C nuclear

plant in eastern England. The company holds a 15% stake in the

project.

Legal & General ( LGGNF ) lost 2.1% after RBC Capital Markets

downgraded the British insurer to "underperform" from "sector

perform".

Greencore ( GNCGF ) jumped 12%, to top the midcap FTSE 250,

after the convenience food manufacturer raised its annual profit

expectations.

Pennon rose 2.5% after J.P.Morgan upgraded the water

company to "overweight" from "neutral". Peers United Utilities

and Severn Trent both added more than 2.2%.

Kier Group ( KIERF ) fell 4.9% after it said that its CEO

Andrew Davies would be stepping down, and named insider Stuart

Togwell as his successor, effective November 1, 2025.

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