FTSE 100 Bounces Back Amid Global Market Turbulence

London's FTSE 100 index modestly rebounded on Wednesday, buoyed by positive performances in the mining sector and rising stock prices for key companies like Rio Tinto. This rise came amid global market unrest due to initial threats by U.S. President Trump regarding Greenland, which he later downplayed.

The FTSE 100 index in London ended its three-day losing streak on a positive note, closing 0.1% higher on Wednesday. This rebound was largely driven by strong performances in the mining sector, with Rio Tinto shares jumping 5.2% following better-than-expected production figures.

The market had initially suffered from volatility fueled by U.S. President Donald Trump's suggestion of acquiring Greenland, which sparked concerns about U.S.-Europe relations. However, Trump later retracted the seriousness of the plan, describing it as a 'small ask' during a speech at the World Economic Forum in Davos.

In the FTSE 250 midcap index, Currys rose 7.7% due to increased profit forecasts, while Burberry saw a 5% boost after surpassing sales expectations. Despite a rise in British inflation, investor sentiment remained steady regarding future Bank of England interest rate cuts.

(With inputs from agencies.)