UK FTSE 100 Closes Higher on Banks
Britain's FTSE 100 reached a two-week high as banking stocks rallied ahead of an anticipated rate hike. Precious metal miners also advanced following a weaker US dollar.
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The United Kingdom's FTSE 100 rose 1.79% to 10,829.21 points on Wednesday afternoon, hitting a two-week high driven by banking and mining gains. The rally marked the blue-chip index's biggest one-day percentage gain since early May, while the midcap FTSE 250 climbed 0.98% to a two-month high. Investors are positioning themselves ahead of the Bank of England's upcoming policy announcement, where a quarter-point rate hike is largely priced in.
