Miners Offset Geopolitical Tensions as Investors Eye Key Events

The UK stock market edged higher on Monday, thanks to gains from miners and other sectors. The blue-chip FTSE 100 index rose 0.2% to 10,835.77 points by 11:41 GMT.

Investors are bracing for key events that could impact global markets in the near term. One of these is the announcement of new US sanctions targeting Iran's trade partners, which could disrupt crude supplies from the Middle East and affect oil prices.

Oil prices eased ahead of the announcement, dragging down British energy majors BP and Shell. However, miners Rio Tinto and Anglo American gained 0.6% and 2.2%, respectively, as a weaker US currency supported metal prices.

This week will see investors keeping a close eye on Nvidia's earnings, which are seen as a major test of the AI rally that has driven stock prices to record highs. Additionally, Federal Reserve Chairman Kevin Warsh's debut speech at the annual Jackson Hole conference is likely to provide guidance on recent jumps in bond yields and monetary policy.