FTSE 100 Rises as European Stocks Rally, Mining Stocks Jump

London’s blue-chip index pushed higher on Wednesday morning, with the FTSE 100 gaining 1.7% as optimism swept across global markets.

The FTSE 250 also advanced, rising 1.1%. European peers joined the rally, with Germany’s DAX and France’s CAC 40 both climbing 1.5%.

The broad-based gains came as oil prices declined following renewed hopes of a diplomatic resolution to the Iran conflict.

US President Donald Trump revealed he was pausing “Project Freedom,” the US plan to escort vessels through the Strait of Hormuz, pointing to significant progress toward a comprehensive agreement with Iranian representatives as the reason for the decision.

The pullback in oil prices weighed on energy majors, with BP falling 2.1% and Shell down 1.2%, making both among the day’s notable laggards. RELX also slipped 0.8%.

However, mining stocks have made strong gains. Gold, silver and other metals prices have rallied sharply, sending mining stocks surging.

Fresnillo tops the FTSE 100 leaderboard with a 6.6% gain, followed closely by Anglo American at +6.2%, Endeavour Mining at +5.4%, and Antofagasta up 5.2%.

In the FTSE 250, Hochschild Mining mirrored the sector’s strength, also rising 6.6%. On the downside, Telecom Plus was the session’s biggest faller, tumbling 6.9%. Trainline dropped over 4%, while energy-focused names felt the squeeze from lower oil prices, with Harbour Energy and Ithaca Energy both dropping more than 3%.