By Sara Sjolin, MarketWatch
LONDON (MarketWatch) -- The U.K.'s FTSE 100 index inched up on
Wednesday, as shares in resource firms rose on the back of higher
commodity prices.
The London benchmark traded 0.1% higher at 6,826.67, after
closing at the highest level since July 7 on Tuesday.
Mining firms were among the top gainers, tracking most metal
prices higher. Shares of precious-metal producers Randgold
Resources Ltd. and Fresnillo PLC climbed 0.7% and 0.6%
respectively, while sector major Glencore PLC (GLCNF) advanced
0.7%.
Oil prices also nudged up, giving a slight boost to the U.K.'s
energy firms. Shares of BG Group PLC added 0.4%, and Royal Dutch
Shell PLC (RDSB) picked up 0.2%.
The banking sector continued to rise on Wednesday, after being
among biggest advancers on Tuesday. The gain follows dovish
comments from European Central Bank President Mario Draghi, which
spurred hopes that the ECB will launch full-on quantitative easing
by the end of the year.
Shares of Lloyds Banking Group PLC (LYG) added 0.2% on
Wednesday,and Barclays PLC (BCS) gained 0.2%. Shares of Royal Bank
of Scotland Group PLC (RBS) were slightly lower after the U.K.
Financial Conduct Authority fined the bank 14.47 million pounds
($24 million) for "serious" failings related to mortgage
recommendations.
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