China-exposed miners, banks push UK's FTSE 100 higher

Miners climbed 1.8%, tracking copper prices that rose after China dismantled its COVID curbs to reopen the economy. Asia-focused banks such as Prudential and Standard Chartered were also among the gainers by 0824 GMT.

UK's export-focused FTSE 100 advanced on Wednesday with miners and banks supporting gains, as top consumer China took additional measures to reopen the economy.

The blue-chip FTSE 100 rose 0.9%, while the mid-cap FTSE 250 added 0.3%. Miners climbed 1.8%, tracking copper prices that rose after China dismantled its COVID curbs to reopen the economy.

Asia-focused banks such as Prudential and Standard Chartered were also among the gainers by 0824 GMT. China revised its quarantine rules for inbound travellers starting from Jan. 8 on Monday, in a major step towards easing curbs on its borders, which have been largely shut since 2020.

Meanwhile, retail destinations enjoyed an almost 40% rise in shopper numbers during the first Christmas in three years without pandemic restrictions, as per Springboard. The sector climbed 0.4%. UK markets were closed on Monday and Tuesday on account of Boxing Day and Christmas Day, respectively.