14.10.202616:07:13UTC+00FTSE 100 Rises to 3-Week High

The FTSE 100 rose more than 0.5% on Wednesday, hitting a three-week high as gains in pharmaceutical, energy and consumer stocks buoyed the index. In healthcare, AstraZeneca and GSK led the advance, each climbing over 3%. Defence names were also strong, with Babcock up 3.5%, BAE Systems adding 2.2% and Rolls-Royce gaining 1%.

Among energy majors, Shell added more than 1%, while BP rose over 0.5%. Consumer-oriented stocks also underpinned the rally, with Unilever up 2.6% and British American Tobacco gaining 0.9%.

The broader move higher was capped by weakness in banking and mining shares. HSBC and Barclays each fell more than 0.5%, while Rio Tinto and Glencore both slipped 0.9%.

Globally, investors digested fresh US inflation data showing consumer prices rose 0.6% in September from the previous month and 3.7% year-on-year, reinforcing concerns about persistent price pressures.