The U.K. stock market witnessed an increase on Wednesday, with the FTSE 100 Index closing up 0.56% at 7,527.67.
Antofagasta PLC Leads in Gains
Among the constituents of the FTSE 100, Antofagasta PLC, a non-ferrous metals company, experienced the largest surge with a 5.32% increase in share value. The positive momentum continued for air freight firm International Distribution Services PLC and precious metals company Fresnillo PLC, which registered gains of 5.08% and 4.22% respectively.
Top Five Gainers
Two other companies, namely Anglo American PLC, a general mining company, and Burberry Group PLC, witnessed significant gains with their stocks climbing by 3.98% and 3.70% respectively.
Smith & Nephew PLC Records Decline
In contrast to the overall positive performance, medical equipment/supplies company Smith & Nephew PLC experienced the largest decline among the FTSE 100 constituents, with shares falling by 2.48% on Wednesday.
Major Losers
Similarly, diversified business services firm Rentokil Initial PLC and major international banks company Lloyds Banking Group PLC saw their stocks drop by 2.29% and 2.10% respectively.
Highlights of Decreases
Among the top five companies witnessing decreases in stock value were Entain PLC, a gambling industries company, and Severn Trent PLC as their stocks declined by 0.81% and 0.79% respectively.
Pound and Crude Oil Performance
The pound displayed strength against the dollar, rising by 0.52% to $1.2753, while also gaining by 0.08% against the euro to reach €1.1698. Additionally, Brent crude recorded a rally of 1.2% to $80.52.