The FTSE 100 climbed 1.4% on Wednesday, adding to a 0.7% gain in the previous session and extending its rebound as oil prices eased and hopes grew for a de-escalation in Middle East tensions. The index notched a second consecutive day of advances after crude slipped below $100 per barrel for the first time since Monday, helping to temper inflation worries.
Banks and miners led the rally. Among financials, HSBC Holdings rose more than 2%, Lloyds Banking Group gained 1.9% and Barclays added 2.3%. In the mining sector, Endeavour advanced over 4%, Fresnillo nearly 3% and Anglo American 3.3%. Pharmaceutical giants also contributed to the gains, with AstraZeneca up 1.9% and GSK climbing 3.5%.
Meanwhile, UK inflation remained unchanged at 3% in February. However, the figures are widely viewed as outdated, as they do not reflect the impact of the recent escalation in the Middle East.
