The FTSE 100 Index Opens 0.13% Higher

The FTSE 100 advanced 0.5% on Thursday, insulated from a sharp global technology stock selloff due to its minimal exposure to the tech sector and strong gains in defensive, consumer, and healthcare shares. A major technology decline hit global equity markets after Meta announced plans to sell access to artificial intelligence computing. In London, AstraZeneca added over 2%, GSK 1.9%, BAE Systems nearly 1.5%, Unilever 1.5%, and British American Tobacco 1.8%, which outweighed 0.8% drops for miners Rio Tinto and Glencore alongside a 0.6% decline for HSBC. Corporate dealmaking and earnings also supported sentiment, as Capricorn Energy rallied on an agreed £271 million cash takeover by Genel Energy at 357p per share, while CMC Markets climbed following an earnings guidance increase and an analyst upgrade. Additionally, retailer Currys posted financial year earnings matching analyst estimates and announced the launch of a £50 million share buyback program.

The FTSE 100 Index is picking up 14 points or 0.13 percent on Thursday. Gains are led by Marks & Spencer (1.84%), J Sainsbury (1.78%) and Compass (1.78%). Biggest losers are Relx (-2.33%), Taylor Wimpey (-1.49%) and IMI (-1.33%).

The FTSE 100 Index fell 17 points or 0.16 percent on Wednesday to close at 10480 points. Leading the losses are Associated British Foods (-3.15%), British American Tobacco (-2.91%) and National Grid (-2.89%). Top gainers were Rightmove (5.27%), Babcock International (5.17%) and Frasers Group (4.87%).