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UK stock indexes set for fourth week of gains, miners rally
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UK stock indexes set for fourth week of gains, miners rally
Aug 7, 2026 3:48 AM

(For a Reuters live blog on U.S., UK and European stock markets,

click or type LIVE/ in a news window)

* Precious metal miners rally as gold prices jump

* Oxford Biomedica ( OXBDF ) tumbles 18% after cutting 2026 revenue

forecast

* Goodwin gains 10% as it explores sale of parts of

engineering business

Aug 7 (Reuters) - The main UK indexes were on track for a

fourth consecutive week of gains on Friday, as a rally in

precious metal miners helped offset worries about a lasting

peace agreement between the United States and Iran.

The blue-chip FTSE 100 rose 0.6% to 10,933.67 points by

1009 GMT, while the midcap FTSE 250 added 0.3% to

24,771.10 points. Both were on track for weekly gains, with the

midcap index set for its biggest weekly gain since mid-April.

* UK-listed shares of Hochschild, Fresnillo

and Endeavour Mining ( EDVMF ) rallied in the range of

2.5% to 8.3%, as gold prices jumped against a sluggish dollar.

* Meanwhile, fresh concerns surrounding the reopening of the

Strait of Hormuz and potential Iranian bans and fines on vessels

it deems hostile kept oil prices supported.

* Investors will closely watch U.S. monthly non-farm

payrolls report at 1230 GMT for signs on the health of the U.S.

labour market as well as monetary policy trajectory.

* Traders expected the U.S. Federal Reserve to hike interest

rates by 25 basis points at least once this year, while placing

the odds of a second such hike by the end of the year at 33%, as

per LSEG data.

* Britain's housing market slowed in July in both monthly

and annual price rise terms as higher borrowing costs and

uncertainty caused by the Iran war overshadowed the market,

mortgage lender Lloyds said.

* Investors were fully pricing in a quarter-point increase

in the main bank rate in December. The Bank of England kept

interest rates on hold last week, flagging that it needed more

time for a sense of how much the war in the Middle East would

push up inflation.

* The UK's housing stocks index dipped 0.6%.

* Among midcap stocks, Oxford Biomedica ( OXBDF ) tumbled 18%

after the cell and gene therapy manufacturer cut its 2026

revenue forecast, citing operational delays at a U.S. site and

deferred client orders.

* Engineering company Goodwin gained 10% as it said

it was exploring a potential sale of parts of its mechanical

engineering business as it embarks on a broader strategic

review.

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