London's FTSE 100 Edges Higher Amid Global Market Caution

London's FTSE 100 index rose slightly on Wednesday, with miners supporting the market ahead of important U.S. economic data and Federal Reserve announcements. The FTSE 100 climbed by 0.1%, while the mid-cap FTSE 250 rose by 0.2%. Investors are closely monitoring upcoming speeches and data releases for future rate cuts.

London's FTSE 100 inched higher on Wednesday, supported by miners, as global markets showed caution ahead of upcoming U.S. economic data and Federal Reserve announcements.

The blue-chip FTSE 100 index was up 0.1% at 8,277.36 at 0711 GMT, rebounding from its worst day since Aug. 5. The mid-cap FTSE 250 index edged 0.2% higher. Industrial metal miners gained 1.6%, despite a slight dip in copper prices. Precious metal miners also saw a 1.2% increase.

However, the energy sector led losses with a 0.4% decline, as oil prices fell on reports of rising U.S. crude inventories and easing Middle East tensions. Investors are keenly awaiting Federal Reserve Chair Jerome Powell's upcoming speech and U.S. labor data updates, anticipating potential rate cuts. Notable stock movements included a 6.2% rise for Mobico and a 30% drop for Watkin Jones.

(With inputs from agencies.)