The FTSE 100 Index Closes 0.66% Higher

The FTSE 100 Index rose 69 points or 0.66 percent on Wednesday to close at 10554 points. Leading the gains are WPP (5.24%), Intertek (4.46%) and Rolls-Royce (4.24%). Top losers were Vistry Group (-24.83%), Weir (-11.17%) and Taylor Wimpey (-2.58%).

The FTSE 100 rose over 0.5% on Wednesday, bouncing back after two days of sharp losses as investors weighed mixed news on the Iran conflict, including Iran’s denial of reports that it had contacted the US to negotiate an end to hostilities. Financial stocks led the recovery, with HSBC Holdings up nearly 2%, Barclays 1.5%, Lloyds Banking Group 1.3%, NatWest Group 1.5% and Standard Chartered 2%. Healthcare and defense names also advanced, with AstraZeneca up 0.7%, BAE Systems 1.2%, Babcock International 1% and Rolls-Royce 4.2%. In contrast, oil majors BP and Shell fell 2.6% and 1.6%, respectively.

The FTSE 100 hovered near the flatline on Wednesday after two sessions of sharp declines, as investors reassessed market conditions. Oil giants BP and Shell slipped 1.1% and 0.9%, respectively, despite higher crude prices, following strong gains earlier in the week that have since eased. Comments from Donald Trump about safeguarding oil shipments helped ease fears of a severe energy disruption. Financial stocks remained under pressure amid concerns that persistent inflation could slow global growth, with HSBC Holdings down 1.5%, Barclays 0.6% and Lloyds Banking Group 0.6%. In contrast, defensive names such as AstraZeneca, GlaxoSmithKline, Unilever and British American Tobacco edged higher, while BAE Systems gained over 1% and miners Rio Tinto and Anglo American rose around 0.7%.