FX.co ★ FTSE 100 Tries to Recover After Sharp Drop

London's FTSE 100 index gained traction on Wednesday, recovering from a stagnant start and a significant decline—the largest since April—despite an uptick in the UK's 30-year bond yield. Driving the recovery, Mexican silver producer Fresnillo surged almost 6% due to rising precious metal prices. Copper miner Antofagasta advanced by 2.7%, with Glencore increasing 2.3%. Meanwhile, BP shares, initially up, hovered around breakeven, notwithstanding Morgan Stanley's positive revision of its forecasts for the oil giant. In corporate developments, Ashtead Group, the plant hire firm, saw a 1.7% rise following Q1 results that confirmed its full-year rental revenue growth forecast of up to 4%. In contrast, asset management firm M&G witnessed more than a 1% decline, even as it announced £2.1 billion in net inflows from its open business and higher adjusted profits for the half-year. Pearson dropped to the lower end of the FTSE 100, impacted by a reduced price target from Goldman Sachs.