FTSE 100 Closes Up 1.8% as M&S Profit Rebounds After Cyber Attack

London's blue-chip index had a powerful session on Wednesday, with the FTSE 100 closing 190.78 points higher, a gain of 1.8 percent, at 10,829.21. Global relief at the US midterm outcome lifted risk appetite, and British banks were among the biggest beneficiaries as NatWest rose 5.3 percent, HSBC 4.8 percent and Lloyds 4.0 percent.

Marks and Spencer jumped 6.4 percent to 440.70p after reporting half-year pretax profit of 355.1 million pounds, compared with just 3.4 million a year earlier when a cyber attack crippled its operations. Fresnillo climbed 7.1 percent, while Weir tumbled 9.6 percent after warning of headwinds and BAE Systems slid 4.2 percent.

The FTSE 250 added 1.0 percent and sterling traded near 1.3464 dollars. Attention now turns to Thursday, when the Bank of England announces its rate decision alongside updates from BT, Diageo, Next and Howden Joinery. Eurozone inflation hitting 4.0 percent in October, the highest since 2023, adds to the pressure on policymakers.