The FTSE 100 rose around 0.2% on Wednesday, recovering some ground after a 0.3% decline in the previous session and outperforming weaker European peers, as gains in commodity-linked stocks underpinned the index. Miners, oil majors and banks led the move higher, buoyed by rising metals and crude prices.
London Stock Exchange Group surged as much as 8.4% following reports that activist investor Elliott has taken a stake. Precious metals miners, including Fresnillo, advanced as gold prices climbed after softer US economic data reinforced expectations of Federal Reserve rate cuts. Base metal producers such as Anglo American and Rio Tinto also gained in step with firmer commodity prices, while BP rose alongside crude amid heightened tensions in the Middle East.
On the downside, companies seen as vulnerable to disruption from artificial intelligence came under pressure, with RELX among the notable laggards. Wealth managers and investment platforms including St James’s Place, AJ Bell and IntegraFin also fell sharply as investors cut exposure to the sector.
