The FTSE 100 closed slightly lower on Thursday, giving up earlier gains as weakness in European markets and sharp losses among miners weighed on sentiment. The index was dragged down by a surprise move from President Donald Trump, who exempted refined copper from new US tariffs, triggering turmoil in copper markets. Major miners fell sharply: Antofagasta dropped over 5.5%, Anglo American nearly 4%, Glencore 2.6%, and Rio Tinto more than 2%. Packaging group Mondi was the day’s worst performer, down over 6% after warning of ongoing tough trading conditions. The London Stock Exchange Group also slumped nearly 8%. Despite the drag from materials, earnings were mostly upbeat. Rolls-Royce soared over 9% to a record high after raising its guidance, with analysts praising its “very strong” results. Shell rose more than 2% after announcing a buyback as profit falls, and British American Tobacco advanced more than 1%. Considering July, the UK index rose more than 4%, the most since January.