FTSE 100 Up Marginally; Miners Gain Ground
(RTTNews) - The U.K. market's benchmark index FTSE 100 dropped into negative territory Wednesday morning, and despite recovering lost ground subsequently, remained just marginally above the flat line as stocks kept swinging between gains and losses in cautious trade ahead of key U.S. inflation data.
Worries about the ongoing conflict in the Middle East and lingering uncertainty over the reopening of the Strait of Hormuz weighed on sentiment.
The FTSE 100, which slid to 10,820.75, was up 10.95 points or 0.1% at 10,855.14 nearly half an hour past noon.
Miners Endeavour Mining and Fresnillo moved up 3.3% and 3%, respectively. Anglo American Plc gained 1.6%
Barratt Redrow, Persimmon, Admiral Group, 3i Group, Melrose Industries, Halma, Rolls-Royce Holdings, Polar Capital Technology Trust and Land Securities gained 1.5%-3%.
Babcock International, BAE Systems, St. James's Place, Aberdeen Group, Lion Finance, ICG and Smiths Group also posted strong gains.
Marks & Spencer shed more than 3%. Burberry Group and Tesco lost 2.9% and 2.7%, respectively. Relx, IG Group, Sainsbury (J), Bunzl, BP, AstraZeneca, GSK, Haleon, Next and Reckitt Benckiser declined 1%-1.6%.
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