FTSE 100 Miners Boosted by Copper Surge and Possible Rio-Glencore Merger

The FTSE 100 index rose 0.2% on Monday as miners led the gains, driven by a surge in copper prices and speculation about a potential merger between Rio Tinto and Glencore.

Copper prices climbed to $14,639.50 per tonne due to supply constraints and strong demand from various sectors, including electrification and artificial intelligence.

Susannah Streeter, Chief Investment Strategist at Wealth Club, attributed the rising copper prices to 'expectations of constrained supply and resilient demand.'

Rio Tinto rose 1.3% and Glencore gained 1.2%, while Anglo American led diversified miners with a 2.3% jump.