The FTSE 100 Index Closes 0.38% Higher

The FTSE 100 Index gained 39 points or 0.38 percent on Thursday to close at 10364 points. Gains were led by Legal & General (6.38%), Imperial Brands (4.14%) and Admiral (3.85%). Biggest losers were 3i (-14.00%), Burberry (-6.19%) and Babcock International (-3.90%).

The FTSE 100 edged higher on Thursday after gaining 0.6% in the previous session, though it underperformed other European markets as several major stocks traded ex-dividend, weighing on the index. Political developments also remained in focus, with leadership uncertainty increasing after Wes Streeting resigned as Keir Starmer’s health secretary, fuelling speculation about a possible challenge to the prime minister. National Grid gained more than 1% after pledging at least £70 billion over five years to upgrade UK and US energy networks, despite missing operating profit estimates. In contrast, Burberry fell more than 6% even after stronger-than-expected sales driven by China and the Americas and the appointment of William Jackson as its new chair. 3i dropped 14% after warning that Middle East tensions would hit its key investment in Action. UK economic data provided some support, with GDP rising 0.6% in Q1 and March growth beating expectations at 0.3% versus a forecast contraction.

The FTSE 100 Index is gaining 3 points or 0.03 percent on Thursday. Leading the gains are Legal & General (4.47%), Barclays (2.57%) and National Grid (2.00%). Top losers are 3i (-19.87%), Burberry (-3.12%) and B&M European Value (-1.66%).