London’s FTSE 100 inches higher as investors await US data, Fed minutes By Reuters

(Reuters) – London’s FTSE 100 rose on Wednesday, supported by miners, as traders sensed caution among global markets ahead of U.S. economic data, the release of minutes from the Federal Reserve’s July meeting and speeches by policymakers. decision this week.

The blue chip was up 0.1 percent at 8,277.36 as of 0711 GMT, after posting its worst day since Aug. 5 in the previous session. The average capital increased by 0.2%.

Industrial metals miners were the biggest gainers in the benchmark index, with a 1.6 percent gain, despite a drop in prices. (MET/L)

Precious metal miners rose 1.2 percent, while bullion remained below record levels, following a rally fueled by inflows of Western funds and optimism about a U.S. rate cut. (EMPTY/)

The benchmark closed 1% lower in the previous session, dragged down by heavy energy stocks.

The energy sector also led losses on Wednesday, down 0.4 percent, as oil prices fell on estimates showing a rise in inventories and expectations of easing tensions in the Middle East. (OR)

Global markets have taken a break from a rally over the past week after comforting US data and a brutal sell-off earlier this month.

Investors are eagerly awaiting Fed Chairman Jerome Powell’s speech at the Jackson Hole Symposium in Wyoming later this week, where policymakers are expected to concede the case for a September rate cut amid dovish comments from Fed officials recent.

Later in the day, preliminary revisions to US labor force data are due to be released. Federal Reserve minutes are also expected to reinforce a dovish stance.

Among individual stocks in London, Mobico advanced 6.2 percent after the British transport company posted a more than 28 percent rise in its first-half profit.

Watkin Jones fell 30 percent after missing profit estimates for the year and said it was reviewing financing options, followed by a downgrade to “hold” from “buy” by brokerage Peel Hunt.