The FTSE 100 was flat at 6,834, paring earlier gains, as investors wait for the US Federal Reserve’s meeting on interest rates.
Mining stocks such as Anglo American (AAL), Fresnillo (FRES) and Rio Tinto (RIO) made gains of up to 3.6%, while Barclays traded 3.1% higher at 171.6p.
Other financial and insurance stocks were in positive territory, including Legal & General (LGEN), Aviva (AV.) and Standard Life (SL.).
West Texas Intermediate (WTI) crude oil rose 2.6% to $45.22 and Brent crude oil was up 2.2% to $46.88 per barrel, respectively.
Copper cheapened 0.4% to $4,740 per tonne.
MAIN NEWS OF THE DAY
Royal Bank of Scotland (RBS) nudged 0.3% lower to 183.2p after Santander pulled out of talks to buy 315 branches on Tuesday. RBS was asked to spin off the branches by the EU in response to its rescue by taxpayers in 2008.
Public sector net borrowing, excluding public sector banks, fell by £4.9 billion to £33.48billion from April to August 2016, compared with the same period in 2015, according to the Office for National Statistics.
MID CAP RISERS AND FALLERS
Over 50s insurance provider SAGA (SAGA) was stable after raising its first half pre-tax profit from continuing operations to £109.9 million and hiking its interim dividend.
SMALL CAP RISERS AND FALLERS
Medical imaging software company Feedback (FDBK) soared 155.9% to 2.18p on an optimistic trading update, which said turnover should be significantly ahead of the previous year.
Milestone (MSG) catapulted 80% higher to 0.9p on news that its Nexstar joint venture with Black Cactus is distributing independent film and video to the Amazon Prime streaming service.
Macau Property Opportunities (MPO) gained 9% to 141.7p after posting its first adjusted net asset value (NAV) growth of 0.3% in the second quarter of 2016 after nearly two years of decline.
Specialist filtration group Porvair (PRV) reported pre-tax profit was ahead of the prior year and revenues at constant currency for the nine months to 31 August were 8% higher.
Wine specialist Majestic Wine (WINE) soured 23.9% to 330p after warning investors about April 2017 profits, which it blamed on issues in its Commercial and Naked Wines USA businesses. The firm confirmed it will pay a dividend in the current financial year.
Women’s clothing retailer Bonmarche (BON) crashed 21.7% to 90p on a disappointing trading update, which reported difficult trading conditions. It reduced profit expectations for the second half as a result of unseasonably hot weather in September.
Broker Cenkos Securities (CNKS) declined 13% to 100p following a 91% plunge in first half profits, as market volatility and the Brexit vote undermined companies willingness to raise cash.
The market responded warmly to online casino operator 32Red’s (TTR) new deal with ITV to offer games based on I’m A Celebrity… Get Me Out Of Here and Saturday Night Takeaway. It also reported a 23-fold year-on-year increase in interim pre-tax profit to £2.5 million.
IronRidge Resources (IRR) said it will proceed with an investment of up to $3.5 million in Tekton Minerals to obtain a 58% stake in the company, pushing its share price 5.9% to 11.2p.
Interserve’s (IRV) construction joint venture Khansaheb won an £81 million contract by Majid Al Futtaim (MAF), to expand and upgrade the City Centre Ajman mall in the UAE.
Physiomics (PYC) raised £555,000 via a placing and decided not to proceed with the acquisition of BioMoti as management wanted to focus on organic revenue growth and profitability.
Story provided by StockMarketWire.com