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FTSE 100 up 0.3%, FTSE 250 down 0.02%
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Industrial metal miners jump on copper gains
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Defence sector gains after Trump's comments on Ukraine
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JD Sports Fashion reports 13.5% fall in first-half profit
(Updates after markets close)
Sept 24 (Reuters) -
Britain's FTSE 100 closed higher on Wednesday, led by miners
and defence stocks, while investors assessed corporate updates
and measured comments by Federal Reserve Chair Jerome Powell.
The benchmark FTSE 100 reversed earlier losses to
gain 0.3%.
An index of industrial metal miners rose 3%
after copper prices on the London Metal Exchange jumped to their
highest level in over 15 months.
Antofagasta ( ANFGF ) gained the most in the FTSE 100 with a
9.3% rise, while Glencore ( GLCNF ) added nearly 3%.
Miner Anglo American rose 4.7% after Angola's state
diamond firm Endiama bid for a minority stake in its diamond
unit - De Beers.
The aerospace and defence sector rose 1.3%,
mirroring gains in European peers after U.S. President Donald
Trump, in an abrupt rhetorical shift, said he believed Ukraine
could retake all of its territory now occupied by Russia.
Babcock International Group ( BCKIF ) was among the top FTSE
gainers, up 4.3%, while BAE Systems rose 2.2%.
Wall Street's main indexes were subdued in choppy trading on
the day.
Traders were digesting comments made on Tuesday by Powell,
who said the central bank needed to continue balancing the
competing risks of high inflation and a weakening job market in
its coming interest rate decisions - offering little clarity on
the future path of rates.
Still, investors expect the U.S. central bank to cut
interest rates in its remaining two meetings of the year.
Among individual stocks, Britain's JD Sports Fashion
reported a 13.5% fall in first-half profit. Shares of the
British sportswear retailer were down 0.8%.
The domestically focused FTSE 250 closed down 0.02%.
Pinewood Technologies ( PINWF ) slipped the most in the FTSE
250, down 14.9%, after the British auto retailer projected its
2025 EBITDA below analysts' consensus, according to Berenberg.
Baltic Classifieds Group's fell 5.1%, after the
company reported results below expectations.
Conversely, Goodwin jumped 19.7% in the FTSE 250,
after the mechanical engineering firm announced that its unit -
Goodwin Steel Castings, had entered a strategic collaboration
with Northrop Grumman International Trading.