<ul>
<li>Airtel Africa hits record high</li>
<li>PM Starmer vows to stay at helm</li>
<li>Trump rejects Iran’s response to peace proposal</li>
</ul>
(Updates after markets close)
May 11 (Reuters) - The UK’s blue-chip FTSE 100 rose on Monday as mining shares jumped and Airtel Africa (AAF.L) hit a record, helping the index defy escalating risk-off sentiment across global markets.
The commodity-heavy FTSE 100 index (.FTSE) closed 0.36% higher, while the midcap FTSE 250 (.FTMC) index slipped 0.18%.
<ul>
<li>Airtel Africa climbed 14.5% to a record and was the biggest gainer on the FTSE 100.</li>
<li>The board of the company’s parent, Bharti Airtel (BRTI.NS) , is scheduled to meet later this week to weigh options, including a possible consolidation or acquisition of stakes in its subsidiaries, including Airtel Africa.</li>
<li>Mining stocks Anglo American (AAL.L) and Rio Tinto (RIO.L) were also among the gainers, rising 3.9% and 3.3%, respectively.</li>
<li>Investors were contending with the stalemate in the Middle East, where hopes of an imminent reopening of the Strait of Hormuz were dashed after U.S. President Donald Trump rejected Iran’s response to a U.S. peace proposal.</li>
<li>Brent crude futures (LCOc1) rose 2.8%, keeping investors concerned about inflation.</li>
<li>Data last month showed that British inflation ​had risen to 3.3% in March from 3.0% in February.</li>
<li>Bank of England Governor Andrew Bailey has also warned that policymakers would face a “difficult judgement call” in the coming months on whether to raise rates.</li>
<li>Meanwhile, investors were also assessing the political uncertainty in the UK.</li>
<li>Prime Minister Keir Starmer made an impassioned plea ​to his Labour Party to stick with him and avoid a leadership contest that he said would only bring chaos.</li>
<li>Labour lawmakers had ​turned on him after his party suffered the worst local election results for a governing party in more than three decades.</li>
<li>“It is worth noting that fiscal pressures are high, no matter who the Labour leader is,” BofA Securities strategists wrote, adding that the government could face pressure to support households through the oil price shocks.</li>
<li>Metal miners (.FTNMX551030) rose 3.6%, while the personal goods sector (.FTNMX402040) fell 3%.</li>
<li>Compass Group (CPG.L) rose 2.4% after it raised its 2026 profit outlook, betting on demand for workplace dining and new contract wins.</li>
<li>Separately, an industry survey showed that Britain’s jobs market had lost momentum in April due to cost pressures stemming from the Middle East conflict.</li>
</ul>

HMCX

MIDD

HUKX

L100

Reuters

Compass Group PLC

Airtel Africa Plc

HSBC FTSE 250 UCITS ETF

iShares FTSE 250 UCITS ETF

HSBC FTSE 100 UCITS ETF

Lyxor FTSE 100 UCITS ETF

Anglo American plc

ANGLO AMERICAN SPON ADR EACH REP 0.5 ORD (P/S)

Rio Tinto plc

Rio Tinto Limited

Rio Tinto

Compass Group

Anglo American

Rio Tinto Group

UK's FTSE 100 rises as miners jump, Airtel Africa hits record