周一，富时100指数收于8424点，略高于平线，仍接近上周的历史高点，因为重量级矿商的涨幅抵消了对利率敏感的股票的跌幅。Fresnillo股价上涨4%，领涨矿业板块，受益于白银和黄金基准的另一个利好交易日。工业矿商也大幅收高，Antofagasta和嘉能可均上涨1%，继续希望中国的一系列经济支持措施将转化为更高的贱金属和黑色金属需求。另一方面，由于Gilt收益率小幅走高，对利率敏感的非必需品行业面临压力，巴宝莉、Ocado Group和Entain收盘大幅下跌。此外，易捷航空以3.3%的跌幅领跌，受到瑞安航空盈利报告中强调的行业未来不确定的压力。

The FTSE 100 closed marginally above the flatline at 8,424 on Monday, remaining close to the record high last week as gains for heavyweight miners offset losses for rate-sensitive stocks. Fresnillo shares closed 4% higher to lead the mining sector, benefiting from another positive session for silver and gold benchmarks. Industrial miners also closed sharply higher, with Antofagasta and Glencore both adding 1% on continued hopes that a series of economic support measures in China will translate to higher base and ferrous metal demand. On the other hand, rate-sensitive discretionary industries were under pressure as Gilt yields edged higher, with Burberry, the Ocado Group, and Entain closing sharply in the red. Additionally, EasyJet led the losses with a 3.3% drop, pressured by the uncertain future for its industry highlighted in RyanAir’s earnings report.

预计周三将公布CPI报告，英国10年期政府债券收益率已升至4.15%，为潜在的降息提供了线索。预计4月份的年通货膨胀率将放缓至2.1%，接近英格兰银行2%的目标。核心通胀率预计将降至3.7%，为2021年10月以来的最低水平。尽管英格兰银行在5月份维持了利率，但由于两名成员国呼吁降息，有人猜测可能在6月或8月降息。在美国，最近通货膨胀的下降和零售销售的低迷增加了人们对美联储今年降息的预期。

The UK 10-year government bond yield has risen towards 4.15% in anticipation of the CPI report on Wednesday, providing insight into potential rate cuts. Annual inflation is expected to have slowed to 2.1% in April, nearing the Bank of England's 2% target. Core inflation is projected to decrease to 3.7%, the lowest since October 2021. Although the Bank of England maintained interest rates in May, there is speculation about a potential cut in June or August as two members called for a decrease. In the US, a recent decline in inflation and lackluster retail sales have increased expectations for Federal Reserve interest rate cuts this year.

英镑兑疲软的美元汇率达到1.27美元的两个月高点，由于美国消费者通胀疲软和零售销售停滞，美联储降息的预期增加。在英国，投资者正在关注通胀率数据，以评估潜在的降息。4月份的年通货膨胀率可能降至2.1%，为2021年6月以来的最低水平，接近英格兰银行2%的目标。预计核心通胀率将降至3.7%，为2021年10月以来的最低水平。尽管英格兰银行在5月份保持利率稳定，但两名成员表示利率有所下降，这标志着借贷成本的下降。

The British pound reached a two-month high of $1.27 against the weakening US dollar, as expectations of a Federal Reserve interest rate cut grew due to softer US consumer inflation and stagnant retail sales. In the UK, investors are watching for inflation rate data to assess potential rate cuts. April's annual inflation likely dipped to 2.1%, the lowest since June 2021 and close to the Bank of England's 2% target. Core inflation is forecasted to drop to 3.7%, the lowest since October 2021. Although the Bank of England held interest rates steady in May, two members suggested a decrease, signaling a shift towards lower borrowing costs.

周一，富时100指数小幅上涨至8440点，接近上周触及的历史新高，这得益于重量级矿业部门的支持，因为市场继续评估美联储和英国央行的降息幅度。Fresnillo以3.5%的涨幅领涨，进一步受益于白银价格的上涨，因为人们希望央行和金属在电气化方面的效用能够实现鸽派转向。工业矿商也大幅上涨，Antofagasta、嘉能可和英美资源集团股价上涨1.5%至1%，继续希望中国的一系列经济支持措施将转化为更高的贱金属和黑色金属需求。与此同时，银行大多处于绿色，巴克莱银行、渣打银行和劳埃德银行的涨幅超过0.5%。另一方面，Rightmove的一项调查显示，房屋要价创下历史新高，开发商喜忧参半。British Land和Barratt交易出现亏损，而Persimmon小幅走高。

The FTSE 100 edged higher to the 8,440 mark on Monday, approaching the record high touched last week with support from the heavyweight mining sector as markets continued to assess the extent of rate cuts to be delivered by the Fed and the BoE. Fresnillo led the gains with a 3.5% surge, further benefitting from the rally in silver prices amid hopes of dovish pivots from central banks and the metal’s utility in electrification. Industrial miners also traded sharply higher, with Antofagasta, Glencore, and Anglo American adding between 1.5% and 1% on continued hopes that a series of economic support measures in China will translate to higher base and ferrous metal demand. In the meantime, banks were mostly in the green with Barclays, Standard Chartered, and Lloyds adding more than 0.5%. On the other hand, developers were mixed after a survey from Rightmove showed that asking prices for homes hit a new record high. British Land and Barratt traded in the red, while Persimmon edged higher.