14.10.202607:31:39UTC+00FTSE 100 Trades Near 2-Week High

The FTSE 100 inched higher on Wednesday, hovering near a two-week peak but underperforming relative to major continental European indices. UK defence stocks were broadly firmer, with BAE Systems up 0.7%, Babcock advancing 1.4% and Rolls-Royce gaining 1%. Mining shares delivered a mixed performance: Glencore rose 1.4% and Anglo American added more than 0.5%, while Rio Tinto slipped by over 0.5%.

Sentiment toward the technology sector remained divided after ASML Holding cautioned that it would be unable to fully satisfy demand for chipmaking equipment over the next two years, reigniting concerns about the durability of the artificial intelligence-driven rally. Even so, the Dutch group lifted the lower bound of its 2026 sales guidance, underscoring that underlying demand remains robust.

Oil prices extended their gains as renewed attacks in the Middle East raised fresh doubts over the pace of recovery in energy shipments from the Persian Gulf.