13.05.202607:41:21UTC+00FTSE 100 Rebounds Led by Banks, Miners

The FTSE 100 rose 0.8% on Wednesday, rebounding after a 0.2% decline on Tuesday, as banks and miners led the advance. Banking shares recovered following recent pressure tied to speculation about potential tax changes under a possible left-wing challenge to Prime Minister Keir Starmer. HSBC gained more than 1%, while Lloyds, Barclays, NatWest and Standard Chartered rose between 1% and 2%.

Mining stocks also strengthened as copper extended its winning streak to eight sessions, with aluminium, nickel and iron ore prices also edging higher. Rio Tinto climbed 4%, Anglo American advanced 4.3%, Glencore added 3.1% and Antofagasta jumped more than 5%.

Babcock International gained over 1.5% after unveiling a new £200 million share buyback alongside stronger annual revenue, supported by solid performances in its nuclear and aviation units.

In contrast, Vistry Group fell around 6% after warning that profits would be significantly lower, citing deeper discounts on home sales and weaker activity in its partnerships division.