FTSE 100 Recovers After Weak Start; Miners Move Up

RTTNews | 114 days ago

(RTTNews) - After opening on a weak note, the UK market recovered lost ground and moved slightly above the flat line on Wednesday with some frontline stocks, including a few from the mining sector, climbing higher on fairly strong buying support.

A steeper than expected drop in inflation aided sentiment, even as uncertainty about a U.S.-Iran peace deal rendered the mood a bit cautious.

The benchmark FTSE 100, which dropped to 10,274.67 in early trades, was up 16.65 points or 0.16% at 10,347.20 a little while ago.

Miners Fresnillo, Antofagasta and Anglo American Plc gained 2.5%, 2.2% and 2.1%, respectively.

Marks & Spencer climbed 3.7% after reporting a rebound in second-half profits.

Babcock International moved up 2.7% and Polar Capital Technology Trust advanced 2.3%. IG Group Holdings, Rolls-Royce Holdings, Weir Group and Bunzl gained 1.3%-2%.

Severn Trent moved up nearly 2%. The water utility upgraded its adjusted earnings forecast for 2026 after reporting robust financial results for the second half of the year.

IAG, Scottish Mortgage, Standard Chartered, M&G, BAE Systems, United Utilities, Segro and Melrose Industries also posted notable gains.

Experian shed nearly 5%. The credit and data analytics firm slid despite reporting record annual results and announcing a fresh $1 billion share buyback program.

Relx, AutoTrader Group and Reckitt Benckiser lost 2.7%, 2.6% and 2.2%, respectively. The Sage Group, Burberry Group, Tesco and LSEG also shed notable ground.

U.K. consumer price inflation slowed to 2.8% in April from 3.3% in March, reflecting the fall in energy bills and reduced costs for package holidays, according to data from the Office for National Statistics.

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