The FTSE 100 pared earlier losses but still closed higher on Monday, supported by miners and pharma stocks. Antofagasta jumped over 5%, while Anglo American, Glencore and Rio Tinto rose more than 1.5% each as copper prices edged higher. GSK rose nearly 4%, after announcing CEO Emma Walmsley will step down in January, to be replaced by Luke Miels, credited with building its specialty medicines portfolio. Investors welcomed both the leadership change and the company’s strong pipeline of 15 potential launches by 2031. AstraZeneca added almost 1% after unveiling plans to upgrade its US listing with a direct NYSE share listing, while keeping its UK base. Reports that Britain may raise drug payments to protect US exports also lent support. Meanwhile, Shell and BP slid 1.2% and 2.6% as oil prices fell, while Unilever, BAT and Rolls-Royce also declined. Politically, Chancellor Rachel Reeves reaffirmed fiscal rules, ruled out a wealth tax, and confirmed funding for Northern Powerhouse Rail.