London’s blue chip index outperformed its peers in Paris and Frankfurt on Wednesday morning, boosted by miners and oil stocks as the price of Brent rose; meanwhile Renishaw performed well on the FTSE 250 as it posted interim revenue growth.
The FTSE 100 index opened up 21.18 points, 0.2%, at 10,375.02. The FTSE 250 was down 183.40 points, 0.8%, at 23,285.94, and the AIM all-share was up 0.71 points, 0.1%, at 816.51.
The Cboe UK 100 was up 0.2% at 1,036.36, the Cboe UK 250 was down 0.8% at 20,628.57, and the Cboe small companies was up 0.2% at 18,799.58.
In European equities on Wednesday, the CAC 40 in Paris was down 0.4%, while the DAX 40 in Frankfurt was down 0.4%.
Sterling was quoted at $1.3689 early Wednesday, higher than $1.3661 at the London equities close on Tuesday. The euro traded at $1.1914 early Wednesday, higher than $1.1901 late Tuesday. Against the yen, the dollar was quoted at JP¥153.17, lower versus JP¥154.23.
The FTSE 100 nudged a fresh record as miners and oil stocks advanced, supported by firmer commodity prices.
Brent oil was trading at $69.67 a barrel early Wednesday, higher than $68.82 late Tuesday, lifting oil majors BP and Shell by 1.7% and 1.2%, respectively.
Mining stocks were also on the rise, buoyed by stronger gold prices. Gold was quoted at $5,052.90 an ounce early Wednesday, higher than $5,011.70 on Tuesday.
Antofagasta, Anglo American, Rio Tinto and Fresnillo were at the top of the blue-chip index, up 2.4%, 2.2%, 2.1% and 1.9%, respectively.
St James’s Place was at the bottom of the index, down 7.4%, followed by Barratt Redrow PLC, which fell 6.6% as it reported a ‘resilient’ first-half performance but cut its dividend.
Statutory pretax profit at the housebuilder rose to £156.2 million in the 26 weeks to December 28 from £113.4 million a year prior.
Revenue increased 11% to £2.63 billion from £2.38 billion aggregated and £2.28 billion reported, as housing completions rose 4.7% to 7,444 from 7,107 aggregated.
The company declared an interim dividend of 5.0 pence per share, down from 5.5p a year earlier.
Barratt Redrow expects full-year 2026 home completions of 17,200 to 17,800, in line with previous guidance, and anticipates adjusted pretax profit for the year to be within the current consensus range.
Chief Executive David Thomas said: ‘During the first half we delivered a resilient performance in a subdued market while making strong progress integrating Redrow. As that integration nears completion, our focus is on disciplined execution. We are embedding our proven operating model across the enlarged group, delivering operational excellence, strengthening efficiency, and positioning Barratt Redrow to deliver volume growth, margin progression, and capital returns through the cycle.’
On the FTSE 250, Pan African Resources was at the top, up 3.9% as it guided interim earnings sharply higher for the six months to December 31, citing a strong gold price and higher production.
The Rosebank-based gold producer expects earnings per share of between 7.18 US cents and 7.43 cents, up from 2.50 cents a year earlier, while headline earnings per share is seen between 7.28 cents and 7.40 cents, up from 1.20 cents. The average gold price received rose 62% to $3,812 per ounce from $2,359, as gold output increased 51% to 128,296 ounces from 84,705.
Pan African expects production to rise further in the second half, with full-year guidance of 275,000 to 292,000 ounces, compared with 196,527 ounces in financial 2025.
The company declared a maiden interim dividend of 12 South African rand cents, or 0.74488 US cents.
Renishaw was also among the risers, up 2.8% as it reported first-half revenue growth but lower statutory profit, saying it ‘enters the second half with momentum’.
Revenue in the six months to December 31 rose 7.1% to £365.6 million from £341.4 million. Adjusted operating profit increased 11% to £57.5 million from £51.6 million, with the adjusted operating margin improving to 15.7% from 15.1%. However, statutory operating profit fell 22% to £40.1 million from £51.6 million.
PZ Cussons jumped 9.3% as higher prices and record Christmas gifting bolstered sales.
The Manchester-based maker of labels including Imperial Leather and Carex reported revenue growth for each of its 10 largest brands. Total revenues increased by 9.5% in the six months to November 29, compared like for like with the same period a year ago.
IG Design surged 34% as it said adjusted operating margins beyond financial 2026 are expected at 4% to 5%, and that its outlook beyond 2026 remains consistent with prior guidance.
It expects underlying annual revenue growth of 0% to 5% and said it will change its reporting currency to GBP from USD effective from 2026.
IG Design said its CEO recruitment process remains underway, with Stewart Gilliland remaining interim executive chair until a new CEO is appointed.
For financial, it expects adjusted profit to exceed current market expectations and revenue of $280 million to $285 million versus previous guidance of $270 million to $280 million, beating current market consensus of $275 million.
In China on Wednesday, the Shanghai Composite closed up 0.1%, while the Hang Seng index in Hong Kong up 0.3%. The S&P/ASX 200 in Sydney closed up 1.7%.
The Tokyo Stock Exchange is closed on Wednesday for National Foundation Day.
In the US on Tuesday, Wall Street ended mixed, with the Dow Jones Industrial Average up 0.1% but the S&P 500 down 0.3% and the Nasdaq Composite down 0.6%.
The yield on the US 10-year Treasury was quoted at 4.14%, unchanged from Tuesday. The yield on the US 30-year Treasury was quoted at 4.78%, also unchanged.
London-based Heathrow Airport said it may lose its title as Europe’s busiest airport this year due to capacity constraints. Chief Executive Thomas Woldbye said this underlined why a third runway project is ‘critical’.
The UK Department for Transport is expected to publish the draft Airports National Policy Statement this summer, while the Civil Aviation Authority is due to decide on a long-term model for airport charges.
Parliament will decide on the final ANPS in the autumn. Some 84.5 million passengers passed through Heathrow’s four terminals last year, a 0.7% increase from 83.9 million in 2024.
Still to come on Wednesday’s economic calendar are US nonfarm payrolls and the US monthly budget statement.
Copyright 2026 Alliance News Ltd. All Rights Reserved.