FX.co ★ FTSE 100 Rebounds Led by Miners

On Thursday, the FTSE 100 index advanced by 0.5%, recovering from a previous 0.5% decline, thanks to significant upward movements in mining and energy stocks, driven by a sharp increase in metal prices. Copper experienced its most substantial single-day surge in years, resulting in notable gains for several mining companies: Antofagasta rose over 6%, Anglo American climbed 3.7%, Glencore increased by 3%, and Rio Tinto appreciated by 2.6%. Precious metals miners rallied as well, with gold and silver reaching new heights. Endeavour saw a 5.4% increase, while Fresnillo gained 4.4%. The energy sector contributed positively, as both Shell and BP rose by more than 1% amid strengthening crude oil prices. In contrast, Lloyds displayed volatility after revealing a share buyback plan up to £1.75 billion alongside a boost in annual profits. Utilities underperformed, with Severn Trent, National Grid, and Centrica all declining between 0.5% and 0.7%, while United Utilities also experienced a drop. Meanwhile, on Wednesday, the Federal Reserve decided to maintain current interest rates, and Chairman Jerome Powell noted improvements in both economic conditions and the labor market.