London's stock market began the week on a strong note, buoyed by gains in energy and precious metal mining stocks. The benchmark index climbed as investors braced for a packed schedule

of economic data releases.

BP, a heavyweight in the energy sector, surged 6.4% to reach its highest level since August following news that activist investor Elliott Management had taken a stake in the company. Market expectations suggest Elliott may push for strategic and board-level changes, further fueling BP’s rally.

The broader oil and gas sector advanced 1.8%, contributing to the market’s positive momentum. Meanwhile, precious metal miners led sectoral gains, rising 1.8% as gold extended its record-breaking rally amid sustained safe-haven demand.

Investor focus is now shifting to a series of crucial economic data reports due throughout the week. These include December GDP estimates, preliminary fourth-quarter growth figures, and industrial and manufacturing output for December, which will offer insights into the health of the British economy.

In the policy arena, Bank of England (BoE) Monetary Policy Committee member Catherine Mann—widely regarded as the most hawkish voice on the committee—is scheduled to speak at 17:30 GMT. Her remarks will follow the BoE’s recent decision to lower interest rates by 25 basis points, a move that has sparked market debate.

Additionally, investors will closely watch BoE Governor Andrew Bailey, who is set to deliver remarks on Tuesday, potentially providing further guidance on the central bank’s economic outlook.

Beyond the UK, global markets will be paying attention to U.S. Federal Reserve Chair Jerome Powell’s upcoming testimony before the House of Representatives on Tuesday and Wednesday. His comments are expected to address key policy concerns, including the potential impact of tariffs on the U.S. economy. Photo by Kaihsu Tai, Wikimedia commons.