Britain’s blue-chip index experienced an uptick on Wednesday, driven by increasing oil and gold prices that bolstered energy and mining stocks. Meanwhile, investors were evaluating new economic forecasts and the prospective trajectory of interest rates set by the Bank of England.
The blue-chip FTSE 100 index rose 0.3% to 10,786.78 points by 1141, while the midcap FTSE 250 climbed 0.3%.
- The energy sector rose 1.9%, snapping a seven-session losing streak as crude prices rebounded from two-month lows hit in the previous session.
- Oil major BP was among the top gainers, up 2.7%, while Shell added 1.6%.
- Industrial metal miners climbed nearly 2%, lifted by an increase in copper prices.
- Anglo American, opens new tab, Antofagasta, opens new tab, Glencore, opens new tab gained between 2.3% and 2.6%, leading advances in the sector.
- The precious metals mining sector opens a new tab added to gains, up 1.8%, tracking a 0.4% rebound in gold prices.
- On the flip side, homebuilders experience limited gains, losing 1.4%.
- A forecast from the National Institute of Economic and Social Research indicated a more robust trajectory for UK economic growth in 2026, while cautioning that inflation might not revert to the Bank of England’s 2% target until the latter part of 2030.
- Traders have assigned a 69% probability to a 25-basis-point rate hike by the Bank of England in December, based on data compiled by LSEG.
- Among stocks, Spirax Group rose 2.4%, positioning itself among the top FTSE 100 gainers, following the valve maker’s announcement that group organic sales growth and adjusted operating profit margin for ten months were in line with expectations and exceeded the first half results.
- ITV opens new tab fell 3.9%, among the top losers on the midcap index, after the broadcaster said it expects advertising revenue to decline by as much as 10% in the fourth quarter.
