The FTSE 100 rose more than 1% on Wednesday to trade above 10,700, its highest level since March 2, supported by broad-based gains across banking, healthcare, energy and mining stocks. Among lenders, HSBC advanced more than 2%, while Lloyds Banking Group and Barclays added over 1.5% and 1%, respectively. Healthcare names were also firmer, with AstraZeneca up 1.7% and GSK ahead by 0.8%.
Oil majors benefited from a continued rally in crude prices amid persistent tensions between the US and Iran, with Shell gaining 1.4% and BP 2.1%. Mining stocks outperformed the wider market: Endeavour Mining jumped 5%, Fresnillo rose 3.5% and Antofagasta added 2.6%.
The moves came as investors digested weaker-than-expected UK inflation data. Consumer prices increased 2.6% in June, as lower petrol, food and clothing costs helped ease overall inflationary pressures.
In the FTSE 250, EasyJet slumped more than 11% following reports that the European Union may review airline ownership rules, a step that could complicate the company’s planned takeover.
