China is a major buyer of industrial and precious metals. In the mining group, BHP Billiton PLC UK:BLT BHP, +0.19% BHP, -0.18% rose 0.4% and Rio Tinto PLC RIO, +1.17% RIO, +0.21% RIO, +1.39% bulked up 0.8%. Anglo American PLC AAL, +0.37% picked up 1%.
Pound strength can hurt U.K.-listed multinationals as it cuts into their profit made overseas. But equities on Wednesday managed to hold to gains as the pound GBPUSD, -0.0539% rose to $1.2638, compared with $1.2569 late Tuesday in New York.