FX.co ★ FTSE 100 Trades Higher on Wednesday

The FTSE 100 rose more than 0.5% on Wednesday, rebounding after two straight sessions of losses as stronger-than-expected UK GDP data improved market sentiment and utilities and mining stocks advanced. The UK economy expanded by 0.5% in the second quarter, up from a previous estimate of 0.4%, suggesting underlying activity was slightly more robust than first reported. Utilities led gains on the blue-chip index, with Severn Trent and United Utilities each climbing around 3%, while SSE and National Grid advanced more than 2.5%. Mining stocks also outperformed, with Antofagasta up 3.2% and Rio Tinto adding about 2%. In contrast, energy companies retreated as weaker Brent crude prices weighed on the sector, pushing Shell down 1% and BP 1.7% lower. Despite Wednesday’s bounce, the FTSE 100 was still about 1% lower for September after a 0.4% decline in August, though it remained roughly 2% higher for the third quarter, underpinned by a 5.3% gain in July.