24.06.202616:02:06UTC+00FTSE 100 Rises on Wednesday

The FTSE 100 climbed on Wednesday, outperforming major European indices on the back of robust corporate earnings and a powerful rally in real estate stocks. Commercial property landlord Segro surged more than 15% after its board unequivocally rejected an all-share takeover approach from U.S. rival Prologis. Discount retailer B&M advanced over 13% following the appointment of former Asda executive Atheeq Akbar as its new chief financial officer, while housebuilder Berkeley gained more than 7% after reporting full-year operating profits ahead of expectations.

Blue-chip heavyweights also underpinned the index, with AstraZeneca and Unilever each rising more than 2%, Rolls-Royce adding 1.5%, and British American Tobacco up 1.9%. However, the broader advance was tempered by a widespread sell-off in commodities. Weakening oil prices pushed Shell and BP down as much as 3.6%, while declines in metal and gold prices weighed on miners including Glencore, Antofagasta, Anglo American, Rio Tinto, Endeavour, and Fresnillo, which fell between 1.7% and 3.6%.