FTSE 100 Rises on Miners and Energy Gains

The UK's FTSE 100 index rose by 0.4% on August 27, driven by strong performances in mining and energy sectors, with copper prices reaching a six-week high. Bunzl PLC led the index, surging 10.8% after issuing a positive annual profit forecast and announcing a £250 million share buyback. Despite the overall gains, Associated British Foods saw a 3% decline following a downgrade from Deutsche Bank. Investors remained cautious amid ongoing tensions in the Middle East and awaited important inflation data from the U.S. Additionally, British shop prices fell for the first time since October 2021, aligning with recent interest rate cuts by the Bank of England. Overall, the market sentiment was boosted by optimism regarding potential interest rate cuts hinted at by U.S. Federal Reserve Chair Jerome Powell.