UK and European stocks were cautiously higher, with market uncertainty lingering over the outlook for interest rate cuts.
The dollar hung near a seven-month low on wagers the U.S. central bank will start cutting interest rates from next month.
Oil prices edged lower as Israel accepted a proposal to tackle disagreements blocking a ceasefire deal in Gaza, helping ease worries about a supply disruption in the Middle East.
Gold held steady near its record high as investors awaited U.S. Federal Reserve minutes and Chair Jerome Powell’s speech for indications on how much the central bank will cut rates this year.
Mining tech group Weir has been awarded a £53m contract on the Reko Diq copper-gold project in Pakistan, a greenfield development part-owned by Barrick Gold Corporation that is said to be one of the largest mines of its kind in the world.
During the first phase of the project, Weir will provide fine grinding, separation and tailings solutions, including its Enduron large-format high-pressure grinding rolls (HPGRs) and wet screens.
Half of the revenue (£26m) will be recognised in the third quarter, with the remaining orders booked for later in 2024 and 2025.
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