The FTSE 100 was materially higher on Wednesday as Middle East tensions subsided and miners stormed higher and took the index with them.
The mining sector’s strength helped the FTSE 100 0.56% higher at the time of writing.
– Advertisement –
The move higher in miners today is a delayed response to the better-than-expected Chinese GDP released earlier in the week, which was overshadowed by Middle East tensions.
The top five risers were all miners at the time of writing with Anglo American jumping 3.6% closely followed by Rio Tinto adding 2.9%. Rio Tinto gained despite announcing lower quarterly iron ore shipments and production.
Although the miners were doing most of the FTSE 100’s heavy lifting on Wednesday, the big domestic story was UK inflation falling to 3.2%, and there was evidence of optimism in UK-focused stocks on Wednesday.
“Inflation is moving in the right direction and anyone who has…
