London midday: Stocks stay up as miners rally; ITV slides on update

11th Nov 2026 11:38

(Sharecast News) - London stocks were off earlier highs but still in the black by midday on Wednesday, with miners pacing the gains amid firmer metals prices.

The FTSE 100 was 0.4% higher at 10,791.24, while oil prices crept up again, with Brent crude up 1.5% at $92.85 a barrel and West Texas Intermediate ahead 0.8% at $86.71.

On Tuesday, the top-flight index gave back the day's gains to end lower after a hotter-than-expected US inflation print boosted expectations of a December rate hike from the Federal Reserve.

Susannah Streeter, chief investment strategist at Wealth Club, said: "The Footsie has opened on the front foot in early trade after a strong start by mining stocks following a rebound in silver prices in particular.

"Oil giants are also higher as Brent Crude ticks up again amid uncertainty around Middle East peace talks. Sentiment has had a lift globally with indices in Japan and South Korea turning positive as attention turns back to tech prospects."

In equity markets, heavily-weighted miners were among the top performers on the FTSE 100 as copper prices advanced, with Antofagasta, Anglo American and Glencore all higher.

BP and Shell also gushed higher as oil prices rose.

Spirax Group rallied as it expressed confidence in achieving its full-year guidance and said group organic sales growth and adjusted operating profit margin for the 10 months to the end of October were in line with expectations and ahead of the first half.

On the downside, ITV slumped. The broadcaster said it has identified another £30m of additional temporary savings in the media and entertainment division as it cautioned that advertising revenue could fall up to 10% in the fourth quarter.

ITV said group revenue dipped 1% in the nine months to September end, with advertising revenue down 1%, outperforming the company's competitors but slightly below previous guidance due to macroeconomic uncertainty. For the third quarter, total advertising revenue fell 8%.

ITV warned that total advertising revenue for its television and streaming business would fall between 5% and 10% in the fourth quarter and be down around 2% to 3% for the full year.

Housebuilder Taylor Wimpey slid as it flagged FY26 adjusted operating profit towards the bottom end of consensus after a softer autumn selling season and higher interest rates reducing mortgage affordability. Analysts are forecasting earnings of £262m-£299m, according to a company-compiled consensus.

FTSE 100 housebuilder Barratt Redrow was also under the cosh.

Market Movers

FTSE 100 (UKX) 10,791.24 0.37%

FTSE 250 (MCX) 24,832.69 0.35%

techMARK (TASX) 6,224.75 0.30%

FTSE 100 - Risers

Spirax Group (SPX) 7,645.00p 4.28%

BP (BP.) 567.20p 2.81%

Antofagasta (ANTO) 3,321.00p 2.75%

Computacenter (CCC) 4,814.00p 2.46%

Anglo American (AAL) 3,908.00p 2.38%

Halma (HLMA) 3,550.00p 2.36%

BT Group (BT.A) 214.10p 2.10%

Glencore (GLEN) 516.00p 2.00%

Diploma (DPLM) 7,320.00p 1.95%

Scottish Mortgage Inv Trust (SMT) 1,529.50p 1.86%

FTSE 100 - Fallers

JD Sports Fashion (JD.) 95.04p -2.52%

Diageo (DGE) 1,865.50p -1.50%

Babcock International Group (BAB) 1,047.50p -1.32%

Investec (INVP) 637.00p -1.16%

3i Group (III) 2,535.00p -1.13%

Barratt Redrow (BTRW) 324.60p -1.10%

Coca-Cola HBC AG (CDI) (CCH) 4,212.00p -0.99%

Sainsbury (J) (SBRY) 348.70p -0.97%

Burberry Group (BRBY) 1,091.50p -0.91%

WPP (WPP) 411.50p -0.89%

FTSE 250 - Risers

Ceres Power Holdings (CWR) 280.40p 6.13%

Volex (VLX) 564.00p 4.64%

Fidelity Emerging Markets Limited Ptg NPV (FEML) 1,272.00p 4.43%

ASOS (ASC) 455.50p 4.13%

Raspberry PI Holdings (RPI) 535.25p 3.93%

Pacific Horizon Inv Trust (PHI) 987.00p 3.89%

Discoverie Group (DSCV) 819.00p 3.28%

Polar Capital Technology Trust (PCT) 585.50p 3.17%

Oxford Instruments (OXIG) 2,646.00p 3.04%

Allianz Technology Trust (ATT) 650.00p 3.01%

FTSE 250 - Fallers

ITV (ITV) 63.90p -4.34%

THG (THG) 37.86p -3.91%

Taylor Wimpey (TW.) 79.34p -3.50%

Moonpig Group (MOON) 278.20p -2.32%

Dunelm Group (DNLM) 893.00p -2.30%

Chemring Group (CHG) 539.50p -2.26%

Halfords Group (HFD) 250.00p -2.15%

Neuberger Private Equity Partners Limited (NBPE) 1,494.00p -1.97%

Frasers Group (FRAS) 947.50p -1.96%

Wizz Air Holdings (WIZZ) 1,125.00p -1.75%