The blue-chip FTSE 100 was up 0.07% as of 1012, having dropped 0.9% in the previous session after Trump threatened 100% tariffs on Chinese imports, reigniting fears of a trade war between the world’s two largest economies. London equities experienced a slight rebound on Monday, primarily driven by the mining sector, following a moderation in U.S. President Donald Trump’s trade rhetoric concerning China. This shift in tone alleviated some of the concerns that had triggered a significant selloff on Friday.

The mid-cap focused index experienced an increase of 1.15%. Over the weekend, Trump adopted a more conciliatory tone, stating that “it will all be fine” and emphasizing that the U.S. had no intention to “hurt” China. In the market, precious metal miners led gains with a 7% rise as gold prices reached another record high. Gold miners Fresnillo and Endeavour gained the most in the FTSE 100 with rises of 7.6% and 6.4%, respectively. In the latest round of mergers and acquisitions, U.S. private equity giant Blackstone stated it was in the early stages of considering a cash offer for Big Yellow Group, lifting the self-storage firm’s shares by 18.3%.

Rival Safestore opened a new tab and also experienced an increase of 11.2% on the news. Tritax Big Box gained nearly 3% following Blackstone’s agreement to acquire a 9% stake in the UK real estate investment trust. Tritax has reached an agreement to acquire Blackstone’s UK logistics assets for 1.04 billion pounds. The broader real estate sector advanced 2.5%. An index of industrial metal miners rose 2.2%, tracking gains in copper prices.

Mining heavyweights Anglo American, Glencore, and Rio Tinto rose between 1.5% and 2.8%, helping lift the blue chip index. Among other individual stocks, Oxford Instruments sheds 11.4% as the company expects H1 revenue to drop and stated that the shortfall is unlikely to be recovered. Lloyds Banking Group gained 1% after a motor finance charge came in lower than anticipated.