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.

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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%.