FTSE 100 rises as energy and miners rebound, offsetting UK rate concerns
London equities trade higher on Wednesday as gains in commodity-linked stocks support the blue-chip index amid a broader reassessment of inflation and interest-rate expectations. The advance comes as investors weigh stronger UK growth forecasts for 2026 against signs that inflation may stay above the Bank of England's 2% target until late 2030.
Highlights
- FTSE 100 rises 0.3% to 10,786.78 by 1141 GMT, led by 1.9% energy sector gain and strong performance in miners as commodity prices rebound.
- Traders price in a 69% chance of a 25-basis-point Bank of England rate hike in December as inflation is not seen reaching 2% until late 2030.
- ITV drops 3.9% on FTSE 250 after forecasting up to 10% decline in Q4 advertising revenue, while Spirax Group gains 2.4% on steady sales and margin update.
Commodity sectors drive London market gains
As reported by Reuters, the FTSE 100 rises 0.3% to 10,786.78 points by 1141 GMT, while the FTSE 250 also climbs 0.3% as higher oil, gold and copper prices lift major resource shares.The energy sector gains 1.9%, ending a seven-session losing streak as crude prices rebound from two-month lows touched in the previous session. BP is among the leading blue-chip gainers, up 2.7%, while Shell adds 1.6%.
Industrial metal miners climb nearly 2% on stronger copper prices, with Anglo American, Antofagasta and Glencore rising between 2.3% and 2.6%. Precious metals miners also advance, adding 1.8% as gold prices rebound 0.4%.
Homebuilders move in the opposite direction and limit broader market gains, falling 1.4%.
Economic forecasts and company updates shape sentiment
A forecast from the National Institute of Economic and Social Research points to stronger UK economic growth in 2026, while warning that inflation may not return to the Bank of England's 2% target until late 2030.Traders price in a 69% chance of a 25-basis-point Bank of England rate hike in December, according to data compiled by LSEG. The outlook keeps monetary policy in focus even as commodity stocks provide near-term support for the market.
Among individual shares, Spirax Group rises 2.4% after the valve maker says group organic sales growth and adjusted operating profit margin for ten months are in line with expectations and ahead of the first half. ITV falls 3.9% on the midcap index after the broadcaster says it expects advertising revenue to decline by as much as 10% in the fourth quarter.
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