FTSE 100 gains on commodity stocks as investors eye economic data

The UK’s FTSE 100 inched up on Tuesday, reversing early losses on gains in commodity-linked stocks, while investors braced for crucial U.S. and UK economic data for clues on the interest rate trajectory.

The commodity-heavy FTSE 100 edged up 0.1% by 0812 GMT, while the more domestically-focused FTSE 250 slipped 0.1%. Precious metal miners led sectoral advances, climbing 2.4%, as gold prices hovered near record high levels, supported by firm central bank buying.

Industrial metal miners followed with a 1.2% rise as prices of metals extended gains amid expectations of a rebound in manufacturing activities globally and prospect of output cuts in China. Meanwhile, oil and gas rose 1.1% as hopes of a ceasefire waned in the Middle East conflict and supply disruption concerns lifted oil prices.

Fidelity Special Values PLC (LON:FSV) aims to seek out underappreciated companies primarily listed in the UK and is an actively managed contrarian Investment Trust that thrives on volatility and uncertainty.

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