UK's FTSE 100 gains as energy and miners rise

FTSE 100 Climbs with Energy and Mining Shares as Oil and Gold Prices Rebound

Market Performance and Sector Highlights

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 rose 0.3% to 10,786.78 points by 1141 GMT, while the midcap FTSE 250 climbed 0.3%.

Energy Sector Recovery

• The energy sector rose 1.9%, snapping a seven-session losing streak as crude prices rebounded from two-month lows hit in the previous session [O/R]

Top Gainers in Energy

• Oil major BP was among the top gainers, up 2.7%, while Shell added 1.6%

Mining Sector Advances

Industrial Metal Miners

• Industrial metal miners climbed nearly 2%, lifted by an increase in copper prices [MET/L]

Leading Companies

• Anglo American, Antofagasta, Glencore gained between 2.3% and 2.6%, leading advances in the sector

Precious Metals Mining

• The precious metals mining sector added to gains, up 1.8%, tracking a 0.4% rebound in gold prices [GOL/]

Other Market Movers

Homebuilders

• On the flip side, homebuilders limited gains, losing 1.4%

Notable Stocks

• Among stocks, Spirax Group 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 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

Economic Outlook

UK Economic Forecasts

• 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

Bank of England Rate Expectations

• Traders priced in a 69% chance of a 25-basis-point BoE rate hike in December​‌, according to data compiled by LSEG​‌

(Reporting by Darshan Kumar in Bengaluru; Editing by Vijay Kishore)