FTSE 100 Trades Near 2-Week High

The FTSE 100 Index is picking up 0.4 points or 0.00 percent on Wednesday. Gains are led by Burberry (2.72%), Babcock International (1.60%) and British Land Company (1.45%). Biggest losers are Admiral (-2.88%), Airtel Africa (-2.02%) and Standard Chartered (-1.29%).

The FTSE 100 edged higher on Wednesday, trading near a two-week high but lagging gains across continental European markets. UK defence stocks advanced, with BAE Systems gaining 0.7%, Babcock rising 1.4% and Rolls-Royce trading 1% higher. Mining shares were mixed, as Glencore added 1.4% and Anglo American rose more than 0.5%, while Rio Tinto fell by over 0.5%. Sentiment around the technology sector remained mixed after ASML Holding warned it could not fully meet demand for chipmaking equipment over the next two years, renewing concerns about the sustainability of the artificial intelligence boom. However, the Dutch company raised the lower end of its 2026 sales forecast, suggesting demand remains strong. Oil prices also continued to climb as renewed attacks in the Middle East cast doubt on the recovery of energy shipments from the Persian Gulf.

The FTSE 100 pared earlier gains and edged down on Tuesday, after two days of gains, as renewed concerns over the sustainability of the artificial intelligence rally weighed on global markets after the US open. The pullback in chipmakers overshadowed strong earnings from major US banks, although London’s limited exposure to technology stocks helped it outperform several European peers. London Stock Exchange Group fell nearly 5% after reports emerged that it was in discussions to acquire credit information platform Octus from UK private equity firm Permira, a development the company confirmed. Mining shares also came under pressure, with Antofagasta dropping 5%, Rio Tinto losing 2% and Anglo American declining 1.6%. BP provided some support, rising more than 3% as investors responded to the company’s progress in reducing its debt burden. The oil major cut net debt by approximately $8 billion over the past three months, highlighting a significant improvement in its balance sheet.