London’s FTSE 100 inched upwards on Wednesday, buoyed by the performance of mining and energy stocks, as investors kept a close watch on developments in the Middle East and anticipated the U.S. Federal Reserve’s interest rate decision later in the day.

The blue-chip FTSE 100 index rose 0.2% to 10,894.67 points by 1038, while the midcap FTSE 250 inched 0.09% higher.

• Industrial metal miners experienced gains, rising 2.3%, following Glencore’s 4% increase attributed to a 15% rise in first-half copper production. Meanwhile, Rio Tinto saw a 2.3% gain after reporting a 43% jump in half-year underlying earnings, marking its highest performance in four years.
• Energy stocks climbed 1.7% as oil prices rose more than 3% after the U.S. launched its first airstrikes in the Middle East since suspending its bombing campaign last week, targeting Iran-backed groups in Iraq in coordination with Saudi Arabia. Meanwhile, Tehran rejected an Omani plan to manage the Strait of Hormuz.
• The U.S. Federal Reserve is anticipated to maintain its interest rates during the upcoming Wednesday meeting, with particular attention on Chair Kevin Warsh’s remarks for insights into future policy directions. Meanwhile, the Bank of England is scheduled to reveal its decision on Thursday.
• Among other movers, Greggs opened new tab rose 14% to the top of the midcap index after Britain’s biggest fast-food chain reported a 20% rise in first-half profit.
• Aberdeen Group opens new tab fell 4.5%, making it the worst performer on the benchmark index, after the British asset manager reported first-half net outflows of 3 billion pounds ($4 billion).
• Weir Group opened new tab rose 7.6% and was the top gainer on the FTSE 100 after the engineering firm reported strong second-quarter results.
• Aston Martin opened new tab climbed 1.4% after the luxury carmaker maintained its full-year forecasts.