LONDON — The FTSE 100 climbed more than 50 points in early trading Wednesday, breaching the 10,300 level for the first time in recent sessions as mining and energy shares rallied on commodity strength despite lingering geopolitical risks from the Middle East.

The blue-chip index stood at 10,318.39, up 53.07 points or 0.52%, by 10:03 BST on May 13, 2026. It had traded as high as 10,360.45 after opening near the previous close of 10,265.32. The advance marked a modest recovery after mixed sessions earlier in the week, with the index navigating volatility tied to U.S.-Iran developments and domestic political pressures.

Investors appeared to embrace a risk-on mood in London even as broader concerns persisted. Brent crude prices remained elevated above $110 a barrel amid uncertainty over a fragile ceasefire, boosting energy heavyweights. Mining stocks also gained ground on rising metal prices, reflecting renewed global demand optimism.

The FTSE 100 has shown remarkable resilience in 2026. After breaking the historic 10,000-point barrier earlier in the year and posting strong gains in 2025 — its best annual performance since 2009 — the index has weathered Middle East tensions, fluctuating gilt yields and mixed corporate earnings. Year-to-date gains have hovered around 3-8% in various reports, underscoring its appeal as a defensive, dividend-rich alternative to more volatile U.S. tech-heavy markets.

Analysts attribute much of the recent momentum to sector rotation. International revenue exposure benefits many FTSE 100 constituents, particularly in resources and energy. A weaker pound in prior periods has also enhanced overseas earnings when translated back to sterling. With a dividend yield still attractive near 3-4% for the index overall, income-seeking investors continue to find value compared to lower-yielding peers........

© International Business Times