FTSE 100 Rebounds on Wednesday
The FTSE 100 rose 0.8% on Wednesday, recovering from the previous session’s 0.3% decline, as gains in commodity-linked stocks and banks supported the index. Oil majors Shell and BP advanced 1% and 1.6%, respectively, as crude prices attempted to rebound following a two-day selloff, with investors continuing to assess prospects for an end to the US-Iran conflict. Mining stocks also strengthened as metals recovered from the previous session’s losses. Antofagasta climbed nearly 4%, while Anglo American, Glencore and Rio Tinto gained at least 2%, supported by rebounds in copper, gold and silver. Banks also contributed to the advance, with HSBC, Lloyds Banking Group and Barclays each rising by 1% or more. Elsewhere, Spirax-Sarco Engineering gained 2% after the company expressed confidence in meeting its full-year targets, citing improved sales growth at its Steam Thermal Solutions division in the four months to the end of October.
The FTSE 100 rose 0.8% on Wednesday, recovering from the previous session’s 0.3% decline, as gains in commodity-linked stocks and banks supported the index. Oil majors Shell and BP advanced 1% and 1.6%, respectively, as crude prices attempted to rebound following a two-day selloff, with investors continuing to assess prospects for an end to the US-Iran conflict. Mining stocks also strengthened as metals recovered from the previous session’s losses. Antofagasta climbed nearly 4%, while Anglo American, Glencore and Rio Tinto gained at least 2%, supported by rebounds in copper, gold and silver.
Banks also contributed to the advance, with HSBC, Lloyds Banking Group and Barclays each rising by 1% or more. Elsewhere, Spirax-Sarco Engineering gained 2% after the company expressed confidence in meeting its full-year targets, citing improved sales growth at its Steam Thermal Solutions division in the four months to the end of October.