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FTSE 100 rebounds as mining shares rise | FTSE 100 rebounds as mining shares rise |
(about 4 hours later) | |
(Close): The FTSE 100 recovered some of the ground lost in Tuesday's sell-off as shares in mining companies rose. | |
At the end of the day, the FTSE 100 was up 43.27 points at 5,966.80. | |
The benchmark share index fell below 6,000 on Tuesday for the first time since February on worries over rising support for the UK leaving the EU. | The benchmark share index fell below 6,000 on Tuesday for the first time since February on worries over rising support for the UK leaving the EU. |
The pound also steadied on Wednesday. Sterling rose 0.52% against the dollar to $1.4189 and climbed 0.22% against the euro to €1.2625. | |
All eyes will be on the US Federal Reserve later as it announces the outcome of its latest policy meeting. | All eyes will be on the US Federal Reserve later as it announces the outcome of its latest policy meeting. |
The US central bank is not expected to announce a rise in interest rates, but its statement will be examined closely for clues as to the timing of a rise later this year. | The US central bank is not expected to announce a rise in interest rates, but its statement will be examined closely for clues as to the timing of a rise later this year. |
In London, mining shares helped to drive the increase in the FTSE 100 as the price of aluminium and copper rose. Glencore shares climbed 6.5% and Anglo American rose 5.2%. | |
But shares in housebuilder Berkeley Group fell 1.2% after it said new home reservations were down 20% ahead of the EU referendum. | |
The company also reported a 9% fall in full-year profits to £530.9m. | The company also reported a 9% fall in full-year profits to £530.9m. |
In the FTSE 250, shares in Jimmy Choo jumped 13.8% after the luxury shoemaker issued an upbeat trading update. | |
The company said it had made a good start to the year and was trading in line with its expectations. | The company said it had made a good start to the year and was trading in line with its expectations. |