The FTSE 100 edged higher for a second straight session on Wednesday, supported by gains in financials and commodity stocks. Standard Chartered rose nearly 3%, Barclays added over 1.5%, while HSBC, NatWest, and Lloyds each gained around 1%. Optimism grew after Banco de Sabadell agreed to sell its British unit, and Spectris shares jumped 4.8% after KKR bid £40 per share, beating Advent’s £37.63 offer. Oil majors Shell and BP climbed 0.7% and 2.1%, respectively, while miners Glencore (2%), Antofagasta (1.6%), Anglo American (1.2%) and Rio Tinto (1.1%) also advanced. Politically, the government passed its welfare reform bill but only after Prime Minister Keir Starmer dropped its most controversial element — limiting disability benefits — following Labour MP backlash. Scrapping that section cost the government about £5 billion in expected savings. While gilts may react to the fiscal impact, the pound remained largely unaffected by the vote outcome.
