Why did UK miners Rio Tinto and Anglo American rise while energy majors BP and Shell fell on Monday?

Rio Tinto and Anglo American rose 0.6% and 2.2%, respectively, as a weaker U.S. dollar supported metal prices; meanwhile, BP and Shell fell because oil prices eased ahead of the U.S. Treasury’s announcement on new sanctions targeting Iran’s trade partners, which raised concerns about potential disruption to crude supplies from the Middle East.

What major upcoming events are investors watching this week that could influence global markets?

Investors are closely watching Nvidia’s earnings report — seen as a major test of the AI rally driving stocks to record highs — and U.S. Federal Reserve Chairman Kevin Warsh’s debut speech at the Jackson Hole conference, where he is expected to provide guidance on the recent jump in bond yields and the monetary policy outlook.

Miners Support UK Stocks as Investors Eye Key Events

Aug 24, 2026

UK stocks rose supported by miners Rio Tinto and Anglo American, while oil majors dipped on Iran sanction fears; Shell attracted bidder interest for its $8 billion U.S. chemical assets.

reuters

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