Glencore's earnings also disappointed, with a substantial drop in net profit and revenue, leading to a reduced payout to investors. In contrast, Hochschild Mining PLC's share price rose after announcing the first gold pour at its Mara Rosa mine in Brazil, with production expected to commence later in the year.

Asian stocks were lifted by Chinese market optimism following policy measures to boost confidence. Investors are also bracing for Nvidia's earnings, which could significantly impact the tech sector. The Federal Reserve's meeting minutes are anticipated for further insights into the policy outlook, with expectations of early U.S. interest rate cuts diminishing due to persistent inflation.

Yesterday, the FTSE 100 fell 0.1%. Barclays gained 8.6% to top the index after posting strong results and announced a major £2bn cost cutting plan and £10bn returned to shareholders by 2026.

Things to read today: