FTSE 100 up as miners gain, housebuilders weak

LONDON, June 30, 2026, 10:01 BST

• FTSE 100 edged up 0.44% as FTSE 250 dipped 0.06%, leaving a 50-basis-point gap between global and domestic UK stocks.
• Miners were at the top of the FTSE 100 gainers list, while housebuilders took the biggest hits after weak housing and income numbers.
• UK GDP rose 0.6% in Q1, while real household disposable income per head dropped 0.8%.
• Mortgage approvals slipped to their lowest since December 2023. Housebuilder sentiment took another knock as a new class-action claim surfaced.

The FTSE 100 (INDEXFTSE:UKX) pushed higher Tuesday, though gains in the main index masked weakness in some sectors. Miners and stocks tied to global growth traded up, but housebuilders and consumer names dropped after new data showed household budgets under pressure.

The London Stock Exchange traded as usual on Tuesday, open from 0800 to 1630 local time. Delayed prices from Hargreaves Lansdown showed the FTSE 100 up 45.90 points, or 0.44%, at 10,530.12. The FTSE 250 (INDEXFTSE:MCX) slipped 14.10 points, or 0.06%, at 23,000.75.

Investors focused less on just the GDP number and more on the gap between economic growth and people’s incomes. UK real GDP rose 0.6% in the first quarter, unchanged from the prior estimate, the Office for National Statistics said. But real household disposable income per head dropped 0.8% after climbing 1.2% in the previous quarter. The household saving ratio slipped to 8.9% from 9.6%.

Liz McKeown, director of economic statistics at the ONS, told Reuters that “services were the main driver of growth,” with gains in computer programming, wholesale, and advertising partly offset by declines at rental and recruitment companies. Matt Swannell, chief economic adviser at EY ITEM Club, said, “softer household spending, tighter financial conditions and economic uncertainty will weigh on investment.” Reuters

The equity screen showed the same pattern. FTSE 100 risers included Antofagasta (LON:ANTO), Anglo American (LON:AAL), Glencore (LON:GLEN) and Rio Tinto (LON:RIO). Persimmon (LON:PSN) and Barratt Redrow (LON:BTRW) were the biggest blue-chip fallers.

Housing stocks faced fresh pressure. Bank of England figures out Monday showed net mortgage approvals slipped to 56,200 in May, down from 66,000 in April and trailing the six-month average of 63,300. That’s the weakest print since December 2023. The average rate on new mortgages climbed to 4.22% from 4.08%.

Zoopla said sales agreed in June are about 7% under last year’s level, with buyer enquiries down roughly 15%. The company said average mortgage rates climbed from under 4% in January to almost 5% by April, which added about 125 pounds to the monthly payment on a standard UK home.

A legal claim brought new sector risk. Reuters said Barratt Redrow, Taylor Wimpey (LON:TW), Bellway (LON:BWY), Berkeley Group Holdings (LON:BKG), Persimmon and Vistry Group (LON:VTY) could all face a class action tied to alleged anti-competitive behavior. The case is chasing 2.2 to 4.5 billion pounds in compensation but needs signoff from the Competition Appeal Tribunal before moving forward.

FTSE 100 gains narrowed, with the headline propped up by commodity names and big firms earning overseas. Shares linked to UK housing demand fell behind. Lloyds Banking Group (LON:LLOY) was up 1.38%, NatWest Group (LON:NWG) gained 1.04%, but housebuilders dropped as investors seemed to watch mortgage volumes more than bank margins for signals of local demand.

Pantheon Macroeconomics’ Rob Wood told the Guardian real household disposable income will grow “only slowly for the rest of the year.” That could weigh on the mid-cap index, as it has more exposure to UK wages, housing, and discretionary spending than the FTSE 100. Theguardian