FX.co ★ FTSE 100 Rises after 3-Day Loss

The FTSE 100 experienced a modest increase of 0.2% on Wednesday, staging a modest recovery after three consecutive sessions of declines. This upturn was largely driven by gains in the precious metals mining sector as investors continued to focus on the U.S. Federal Reserve's forthcoming actions. Precious metal mining companies were standout performers, buoyed by rising gold and silver prices in anticipation of a Federal Reserve rate cut. Notably, shares in Fresnillo climbed approximately 2.5%, Endeavour Mining saw a 2% uptick, and Anglo American rose by 0.8%. Anglo American was also in the spotlight following shareholder approval of its merger with Teck Resources—an expected move that will establish a metals group valued at approximately $50 billion and increase its stake in the copper market. This merger is happening as copper maintains near-record price levels due to robust demand. Meanwhile, Berkeley Group shares gained over 1.5% after the homebuilder reaffirmed its profit outlook despite experiencing lower revenues. The company cited a cautious short-term sentiment but maintained a more optimistic long-term perspective, highlighting improved affordability and easing interest rates, particularly in London.