The FTSE 100 rose 0.8% on Wednesday, rebounding from a 0.3% decline in the previous session, as gains in commodity-linked stocks and banks underpinned the index. Oil majors Shell and BP added 1% and 1.6%, respectively, as crude prices attempted to recover following a two-day selloff, with investors continuing to weigh the outlook for a resolution to the US–Iran conflict.
Mining stocks also advanced as metals clawed back losses from the prior session. Antofagasta jumped nearly 4%, while Anglo American, Glencore and Rio Tinto all rose by at least 2%, supported by a rebound in copper, gold and silver prices.
Banks were another key driver, with HSBC, Lloyds Banking Group and Barclays each gaining 1% or more. Elsewhere, Spirax-Sarco Engineering climbed 2% after the company reiterated confidence in meeting its full-year guidance, citing stronger sales growth at its Steam Thermal Solutions division in the four months to the end of October.
