FTSE 100 Rises Amid Energy, Metal Surge; JD Sports Slips

The UK's FTSE 100 index rose by 0.4% on Wednesday, driven by energy and metal mining shares. JD Sports fell 5.5% after keeping its annual outlook unchanged despite a first-half profit beat. Worries over Middle East tensions boosted oil prices, while Chinese stimulus lifted industrial metal mining stocks.

On Wednesday, the UK's benchmark FTSE 100 index opened higher, with gains led by energy and industrial metal mining shares. However, JD Sports experienced a decline following an unchanged annual outlook despite a first-half profit beat.

The blue-chip FTSE 100 index was up 0.4% by 07:20 GMT, in contrast to the midcap FTSE 250 index which remained flat. Heavyweight oil and gas shares saw a 2.5% increase as oil prices surged more than a dollar, driven by escalating Middle East tensions and Iran's significant military action against Israel, causing concerns over potential crude output disruptions.

Industrial metal miners recorded a 1% rise due to higher copper prices, fueled by improved demand prospects following China's stimulus measures. In contrast, JD Sports Fashion plummeted 5.5%, marking the steepest decline within FTSE 100. This came as the retailer did not revise its annual guidance, despite surpassing market expectations for first-half profit, citing a 20 million pound ($26.6 million) foreign exchange headwind in the year's second half.

The automobiles and parts index led sectoral declines with a 1.3% drop, as Aston Martin fell 3.6%, extending its losses for a third consecutive session. Meanwhile, British employer pay settlements remained at the lowest level in two years for the three months to August, potentially reassuring the Bank of England as it considers further interest rate cuts.

(With inputs from agencies.)