FTSE 100 hits record high on boost from oil stocks, upbeat earnings
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London's FTSE 100 reached a record high of 9,579.07 points, up 0.6%, driven by a 5% rise in crude oil prices and strong earnings from companies like LSEG and Rentokil. Oil stocks Shell and BP each gained about 3%. The FTSE midcap index rose 0.1%, nearing a four-year high. Positive earnings reports and cooling inflation have bolstered UK equity markets, with the FTSE 100 on track for its best weekly performance since mid-April. However, InterContinental Hotels and St James’s Place saw declines amid slower growth forecasts.
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Source: Reuters The copyright of this article belongs to the original author/organization.
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