(MENAFN- ProactiveInvestors - UK) London''s FTSE100 index closed higher on Wednesday, just shy of the 6,000 mark, as markets priced in a no-change to US interest rates later in the day.
The FTSE100 index closed up 43 points, or 0.7%, at 5,966 ahead of a key US interest rate decision expected at around 1900 BST.
But the blue-chip ticker was still more than 300 points off where it closed a week ago, as the worries about a possible Brexit of the UK from the European Union remained priced in. That said, as a Brexit has never been attempted before no one is declaring the market''s fall will bottom anytime soon.
A total of 36% of London''s stocks gained on the day, while 38% were unchanged. That left just 26% falling. As such, it was a far more buoyant session than Tuesday when 56% of stocks fell in the wake of the Brexit worries.
The top riser this session in London was Aureus Mining (LON:AUE) which agreed an equity financing deal with MNG Gold Jersey Ltd to bankroll the restart of a processing plant at the New Liberty gold mine in Liberia. Shares rose 33.3% to 3.5p.
But in equal measure, the biggest faller declined by a similar amount, Highlands Natural Resources (LON:HNR), losing 36.4% to 29.5p.
Highlands published a flurry of announcements on Wednesday, including its divestment of Helium Assets, disposal of warrants and finally, what triggered a reversal of earlier session gains, news that the oil-and-gas investment group posted a net loss of 1.82mln in the period from Nov. 13 to March 31, following its first year of trading as a listed company.
Separately, the company--which is focused on producing commercial fracking technologies--said it will receive 7.5mln after hydraulic fracking firm Diversion Technologies LLC sells its entire holding of 30 million warrants in Highlands.
The stock triggered not one but two price monitoring extensions on the London bourse.
Bargain hunters focused on rising resource stocks such as Anglo American PLC (LON:AAL), up 5.3% to 631.26p, Antofagasta PLC (LON:ANTO), up 5.2% to 415.05p, and Glencore PLC (LON:GLEN), up a similar 5.4% to 135.10p.
But results from house builder Berkeley Group Holdings PLC (LON:BKG) fell flat, prompting market makers to adjust the share price 36p, or 1.2%, to 2953.82p.
Midsession
A breakthrough for a Russia-focused oil company propelled its shares higher on Wednesday as blue-chip shares kept gains ahead of Fed rate news.
Urals EnergyPublic Company Limited (LON:UEN) soared 0.5p, or 28.6%, to 2.25p as it won a 25-year exploration and development licence for the South Dagi oil field on Sakhalin Island.
Russian state-registered proven and probable reserves in the licence area are 17.7mln barrels, with possible reserves of 9mln barrels.
Aureus Mining Inc(LON:AUE) agreed an equity financing deal with MNG Gold Jersey Ltd to bankroll the restart of a processing plant at the New Liberty gold mine in Liberia. Shares rose 20.4% to 3.16p.
AndHerencia ResourcesPLC (LON:HER) strengthened 7.1% or 0.0025p to 0.0375p on news that it had executed formal documentation to sell its 70% stake in the Paguanta metal project in Chile.
The Footsie gained 56 points to 5979 while small-cap indices were also in positive territory.
Positive sentiment surrounding the outcome of the UK''s EU vote seemed to be partly behind the rise after betting odds showed a 62% likelihood of Britain staying in the 28-nation bloc.
But traders also had their eyes on the US where stocks looked set for a higher start on the final day of the FOMC rate-setting meeting,
Bargain hunters focused on rising resource stocks such asAnglo AmericanPLC (LON:AAL), Antofagasta PLC (LON:ANTO) and Glencore PLC (LON:GLEN) .
But results from house builderBerkeley GroupHoldings PLC (LON:BKG) fell flat, prompting market makers to adjust the share price some 11p downwards to 2979.
Shares inTaylor WimpeyPLC (LON:TW.) were off 1.2p at 171.9p.
The company said there was ''robust underlying demand'' in the housing market, but noted uncertainty affecting current transaction levels.
Reservations in the first five months of 2016 fell 20% year-on-year on reduced new launches in the run-up to the referendum.
Jimmy ChooPLC (LON:CHOO) was in fashion after an upbeat trading statement. Shares in the designer shoe retailer advanced 13.55p, or 14%, to 109.5p.
Shares inPoundlandPLC (LON:PLND) bounced 1% to 197.75p after it emerged that Steinhoff International, the owner of Bensons for Beds and Harveys in the UK, was considering a takeover bid for the discounter.
Steinhoff has failed in bids to take overHome Retail GroupPLC (LON:HOME) and French electrical retailer Darty PLC (LON:DRTY).
Severfield PLC (LON:SFR) ticked up 10.5% to 52.5p on news that the structural steel group had returned to revenue growth.
ButServelec Group Plc(LON:SERV) dived 32.35% to 230p as the software group warned on annual profits due to contract delays.
Preview
London''s FTSE 100 could be set to break a losing streak as this morning the blue-chip benchmark is expected to start positively.
Concerns over an apparently looming Brexit had been among the issues blamed for downward pressure on global equities, as the Leave vote has been leading the polls.
Meanwhile attentions will briefly turn to the US Federal Reserve on the second day of a two day policy meeting. Better than expected US retail sales data provided some positivity.
Wall Street nevertheless closed Tuesday''s trading in red. The Dow Jones was down 57 points, 0.33%, to 17,674. The S & P 500 edged 0.18% lower to 2,075, and the Nasdaq dipped 0.1% to 4,843.
Asian trading was better though. The Shanghai Composite led the way with a 1.54% rally to 2,886 while Japan''s Nikkei rose 0.6% to 15,959 and Hong Kong''s Hang Seng gained 0.18% to 20,421.
In Australia the ASX 200 was down 0.86% to 5,158.
Oil prices pulled back a little, with Brent crude priced just above US$49 per barrel and WTI crude was at around US$47.80. Meanwhile, gold was priced at around US$1,285.
Spreadbetting and CFD firm IG Markets sees London''s FTSE 100 some 20 points higher about an hour ahead of Wednesday''s open, calling the benchmark at 5,938 to 5,942.