Miners, defense stocks boost FTSE 100, investors scrutinize Fed Chair’s comments

FTSE Futures

On Wednesday, FTSE 100 experienced an upward close, driven primarily by the performance of miners and defence stocks, as investors evaluated corporate updates alongside the measured remarks from Federal Reserve Chair Jerome Powell. The benchmark FTSE 100 reversed earlier losses to gain 0.3%. An index of industrial metal miners rose 3% after copper prices on the London Metal Exchange jumped to their highest level in over 15 months.

The aerospace and defence sector rose 1.3%, mirroring gains in European peers after U.S. President Donald Trump, in an abrupt rhetorical shift, said he believed Ukraine could retake all of its territory now occupied by Russia. Where as

  • Glencore saw an addition of nearly 3%.
  • Miner Anglo American opens new tab rose 4.7%.
  • Britain’s JD Sports Fashion reported a 13.5% fall in first-half profit.
  • Antofagasta led the gains in the FTSE 100 with a 9.3% increase.
  • The stock of the British sportswear retailer experienced a decline of 0.8%.
  • Babcock International Group was among the top FTSE gainers,
    up 4.3%, while BAE Systems rose 2.2%.

The primary indices exhibited a lackluster performance amid volatile trading conditions throughout the day. Traders were analyzing remarks made on Tuesday by Powell, who indicated that the central bank must persist in balancing the conflicting risks of elevated inflation and a declining job market in its forthcoming interest rate decisions — providing minimal insight into the future trajectory of rates. Nonetheless, market participants anticipate that the U.S. central bank will reduce interest rates in its final two meetings of the year. Pinewood Technologies opened a new tab and experienced the most significant decline in the FTSE 250, falling by 14.9%, following the British auto retailer’s projection of its 2025 EBITDA falling short of analysts’ consensus.

Baltic Classifieds Group’s opens new tab fell 5.1%, after the company reported results below expectations.
Conversely, Goodwin opened new tab jumped 19.7% in the FTSE 250, after the mechanical engineering firm announced that its unit – Goodwin Steel Castings, had entered a strategic collaboration with Northrop Grumman International Trading.