FTSE 100 Moderately Higher As Stocks Recover From Recent Losses

(RTTNews) - U.K. stocks are up after six successive days of declines, with shares from the mining sector contributing significantly to the gains Wednesday morning.

Optimism over a ceasefire in Ukraine is aiding sentiment. Meanwhile, the U.S. has decided to resume intelligence sharing and military aid to Ukraine after Kyiv said it would support the Trump administration's proposal for a 30-day ceasefire with Russia.

Kyiv has reportedly agreed to a US-proposal for an "immediate, interim 30-day ceasefire" if Russia agrees to the terms.

"A while ago, Ukraine has agreed to the ceasefire. Now we go to Russia and hopefully President Putin will agree to it also," U.S. President Trump said soon after the Jeddah announcement.

On the tariff front, the UK government has decided not to retaliate against tariffs imposed by the U.S. on metals, and has reaffirmed its commitment to US trade talks.

The benchmark FTSE 100 was up 44.56 points or 0.52% at 8,540.55 a little while ago.

Melrose Industries is up with a strong gain of 7.2%. Fresnillo is gaining 3.6%, while Entain, Rolls-Royce Holdings, Informa, Anglo American Plc, 3i Group and Barclays Group are up 2 to 3%.

Intermediate Capital, Standard Chartered, Antofagasta, AstraZeneca, Airtel Africa, Aviva, Weir Group, Beazley, Halma, Diploma, Spirax Sarco, Smiths, Scottish Mortgage, Natwest Group, Coca-Cola, Endeavour Mining and Lloyds Banking are up 1 to 1.8%.

Persimmon, IAG, Associated British Foods, JD Sports Fashion, Auto Trader Group, Hiscox and BT Group are down 2 to 4%.

Sainsbury (J), Smith & Nephew, Next, Severn Trent, Berkeley Group Holdings, Frasers Group, LondonMetric Property, Marks & Spencer, Barratt Redrow and BAE Systems are down 1 to 1.7%.