FTSE 100 Edges Higher As Mining, Energy Stocks Surge

U.K. stocks advanced on Wednesday as higher commodity prices helped lift miners and energy stocks.

The benchmark FTSE 100 rose 33 points, or half a percent, to 7,299 after closing 0.2 percent higher on Tuesday.

Oil & gas company BP Plc climbed 1.4 percent and Royal Dutch Shell added 0.7 percent as oil extended overnight gains amid skepticism about the effectiveness of a U.S.-led release of oil from strategic reserves.

Miners Anglo American, Antofagasta and Glencore rose between half a percent and 1 percent, tracking higher copper prices due to easing concerns over Chinese demand.

Johnson Matthey tumbled 3 percent. The chemicals company has warned that exiting its electric battery business will cost shareholders £314 million.

Water services company United Utilities gained half a percent after reporting improved profit and revenue for the first half.

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