Business

FTSE 100 rebounds as mining shares rise

London stock brokers (file photo) Image copyright AFP

(Close): The FTSE 100 recovered some of the ground lost in Tuesday's sell-off as shares in mining companies rose.

At the end of the day, the FTSE 100 was up 43.27 points at 5,966.80.

The benchmark share index fell below 6,000 on Tuesday for the first time since February on worries over rising support for the UK leaving the EU.

The pound also steadied on Wednesday. Sterling rose 0.52% against the dollar to $1.4189 and climbed 0.22% against the euro to €1.2625.

All eyes will be on the US Federal Reserve later as it announces the outcome of its latest policy meeting.

The US central bank is not expected to announce a rise in interest rates, but its statement will be examined closely for clues as to the timing of a rise later this year.

In London, mining shares helped to drive the increase in the FTSE 100 as the price of aluminium and copper rose. Glencore shares climbed 6.5% and Anglo American rose 5.2%.

But shares in housebuilder Berkeley Group fell 1.2% after it said new home reservations were down 20% ahead of the EU referendum.

The company also reported a 9% fall in full-year profits to £530.9m.

In the FTSE 250, shares in Jimmy Choo jumped 13.8% after the luxury shoemaker issued an upbeat trading update.

The company said it had made a good start to the year and was trading in line with its expectations.