Market Analysis

London's FTSE 100 saw a slight increase on Wednesday, rising by 0.1% to 8,277.36 at 0711 GMT. This followed a notably poor performance on Tuesday, which was the index's worst day since August 5. The mid-cap FTSE 250 index also experienced a modest gain of 0.2%.

Industrial metal miners led the gains in the FTSE 100, advancing by 1.6%, despite a decline in copper prices. Precious metal miners saw a 1.2% rise as bullion prices remained just below their record highs.

The FTSE 100 had closed 1% lower on the previous day, primarily due to declines in energy sector shares. On Wednesday, the energy sector continued to face pressure, falling by 0.4% amid slipping oil prices and growing U.S. crude inventories.

Global markets paused their recent recovery, which followed a period of significant declines earlier this month, in anticipation of forthcoming U.S. economic data, including the Federal Reserve's July meeting minutes and speeches from key policymakers.

Investors are particularly focused on Fed Chair Jerome Powell's upcoming speech at the Jackson Hole symposium later this week. Additionally, preliminary revisions to U.S. labor data are expected to be released later in the day.

In individual stock movements, Mobico saw a 6.2% increase after reporting a more than 28% rise in its first-half profit. Conversely, Watkin Jones fell by 30% following a miss on profit estimates and an announcement that it is exploring funding options.

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Paraphrasing text from "Reuters” all rights reserved by the original author.