UK's FTSE 100 gains as energy and miners rise
Nov 11 (Reuters) - Britain's blue-chip FTSE 100 gained on Wednesday as rising oil and gold prices lifted energy and mining shares, while investors assessed fresh economic forecasts and the outlook for Bank of England interest rates.
The blue-chip FTSE 100 index .FTSE rose 0.3% to 10,786.78 points by 1141 GMT, while the midcap FTSE 250 .FTMC climbed 0.3%.
The energy sector .FTNMX601010 rose 1.9%, snapping a seven-session losing streak as crude prices rebounded from two-month lows hit in the previous session O/R
Oil major BP BP.L was among the top gainers, up 2.7%, while Shell SHEL.L added 1.6%
Industrial metal miners .FTNMX551020 climbed nearly 2%, lifted by an increase in copper prices MET/L
Anglo American AAL.L, Antofagasta ANTO.L, Glencore GLEN.L gained between 2.3% and 2.6%, leading advances in the sector
The precious metals mining sector .FTNMX551030 added to gains, up 1.8%, tracking a 0.4% rebound in gold prices GOL/
On the flip side, homebuilders .FTNMX402020 limited gains, losing 1.4%
A forecast from the National Institute of Economic and Social Research pointed to stronger UK economic growth in 2026, while warning inflation may not return to the Bank of England's 2% target until late 2030
Traders priced in a 69% chance of a 25-basis-point BoE rate hike in December, according to data compiled by LSEG
Among stocks, Spirax Group SPX.L rose 2.4%, among the top FTSE 100 gainers, after the valve maker said group organic sales growth and adjusted operating profit margin for ten months were in line with expectations and ahead of the first half
ITV ITV.L fell 3.9%, among the top losers on the midcap index, after the broadcaster said it expects advertising revenue to decline by as much as 10% in the fourth quarter