The FTSE 100 rose over 0.5% on Wednesday, extending gains for a third straight session after UK inflation came in softer than expected and Barclays posted strong earnings. Inflation held steady at 3.8% in September, below forecasts of 4%, boosting bets on Bank of England rate cuts. Barclays’ shares climbed more than 3%, as analysts described its results as “solid,” showing resilience in both UK lending and investment banking. Other banks rose modestly, with traders noting that expectations for lower rates could squeeze lending margins. Precious metal miners led the rally, with Fresnillo up 4.2% and Endeavour Mining up 3.5%, rebounding after gold and silver suffered their steepest one-day drop in over a decade. Rio Tinto gained over 3% after reports it may pursue an asset-for-equity swap with China’s Chinalco, potentially paving the way for share buybacks. Meanwhile, GSK slipped 0.6% after its experimental dementia drug failed in trials.
