FTSE 100 Climbs to Around 2-1/2-Month High

2026-07-02 16:21 By Agna Gabriel 1 min. read

The FTSE 100 rose 1.7% to 10653 on Thursday, the highest since April 17, driven by a powerful rally across defensive, pharmaceutical, and aerospace sectors.

Pharmaceutical giants led the upward momentum with AstraZeneca jumping over 5% and GSK adding more than 4%, while defense majors secured heavy gains as BAE Systems surged 6.1% and Babcock International advanced 5.5%.

Broad-based support from market heavyweights including Rolls-Royce, British American Tobacco, oil majors BP and Shell, alongside lenders HSBC and Lloyds Banking Group, further underpinned the index's advance.

Also, Capricorn Energy agreed to be taken over by Genel Energy, while CMC Markets got an upgrade from analysts at Panmure Liberum after increasing its earnings guidance.

Additionally, retailer Currys posted financial year earnings matching analyst estimates and announced the launch of a £50 million share buyback program.



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