The FTSE 100 Index Opens 0.88% Higher

The FTSE 100 Index is picking up 94 points or 0.88 percent on Thursday. Gains are led by NEXT (2.13%), The Sage Group (2.05%) and Rolls-Royce (2.00%). Biggest losers are Marks & Spencer (-1.87%), Reckitt Benckiser (-0.40%) and JD Sports Fashion (-0.24%).

The FTSE 100 gained more than 0.5% on Thursday, with investors focused on the Bank of England’s interest-rate decision following the Federal Reserve’s move the previous day. The Fed raised rates by 25 basis points, as widely expected, and signalled another increase later this year, a decision that drew criticism from President Donald Trump. Meanwhile, oil prices declined for a second consecutive session, potentially easing some pressure on UK gilt markets, although trading could remain cautious ahead of the BoE announcement. Next led the index, rising more than 2% after the retailer raised its full-year guidance. The company cited a modest improvement in sales expectations and additional cost savings, particularly in warehousing. Banks also advanced, with HSBC Holdings up 1.1% and Barclays gaining 0.9%. AstraZeneca and GSK each rose more than 1%, while Unilever added 0.5%. Rolls-Royce gained 2% and British American Tobacco climbed 1.4%, supporting the broader market.

The FTSE 100 rose 0.3% on Wednesday after falling 0.4% in the previous session, as easing oil prices supported sentiment despite a fresh rise in UK inflation. Consumer prices increased 3.1% year-on-year in August, up from 2.9% in July and matching market expectations, although above the Bank of England’s 2.8% forecast. Higher motor-fuel prices, linked to the ongoing Iran conflict, and increased airfares contributed to the acceleration. Markets are now focused on the Federal Reserve’s decision later today and the Bank of England’s meeting on Thursday. Barratt Redrow surged more than 11% after reporting stronger-than-expected annual results, while Persimmon gained 6%. Banks including Standard Chartered, NatWest, Lloyds Banking Group and HSBC all rose after JPMorgan forecast stronger third-quarter trading and investment-banking revenue. On the other hand, energy majors Shell and BP fell more than 2% each.