The FTSE 100 Index Closes 0.69% Higher

The FTSE 100 Index went up by 74 points or 0.69 percent on Thursday to close at 10831 points. The rise was led by London Stock Exchange (3.87%), Endeavour (3.83%) and Polar Capital Holdings (3.41%). On the downside, the weakerst performers were Reckitt Benckiser (-2.51%), Admiral (-2.49%) and Convatec Group (-2.14%).

London’s FTSE 100 gained ground to close about 0.7% firmer at a near one-week high of 10,832 on Thursday, after two sessions of losses, as bond markets stabilized, while firmer commodity prices also provided support. Meanwhile, Middle East tensions kept oil prices elevated. On the domestic front, final PMI data confirmed a stronger expansion in Britain’s dominant services sector in August. Precious metals miners Endeavour Mining and Fresnillo were among the top performers, gaining 3.6% and 2.9%. respectively, benefiting from rising prices of gold. Telecom stocks also provided important support. Vodafone Group PLC shares rose 2.4% after its VodafoneThree subsidiary unveiled a new television and entertainment service, taking on rivals including Sky, BT and Virgin Media O2. Airtel Africa also advanced firmly, adding more than 2%. On the downside, Reckitt (-2.8%), ConvaTec (-2.7%), Admiral (-2.5%) and Haleon (-2.3%) were the biggest laggards.

London’s FTSE 100 steadied around 10,750 points on Thursday, its lowest level in two weeks, after two sessions of losses as the global bond selloff eased. Oil prices edged lower after President Donald Trump said renewed US attacks on Iran were likely to be short-lived, helping ease concerns over inflation and further energy-price pressures. Metals prices rebounded as fears of a wider Middle East escalation eased, potentially reducing pressure on central banks to raise interest rates and supporting demand for non-interest-bearing precious metals. BP and Shell fell around 0.7%, while miners Fresnillo, Endeavour, Glencore, Anglo American, Rio Tinto and Antofagasta gained 0.5%-1%. M&G dropped 2.2%, Compass 1.4% and NEXT 1%, while Airtel Africa, Vodafone and London Stock Exchange rose 3.2%, 2.4% and 1.1%, respectively.