UK Stocks Rise Amid Interest Rate Speculations and Corporate Earnings
UK shares saw a modest rise on Thursday with the midcap index reaching a two-week high. Investors analyzed corporate outcomes alongside potential interest rate adjustments following signs of declining consumer spending. Industrial metal miners led gains with a weaker dollar favoring mineral demand. Energy stocks saw minor uplift.
UK stocks gained traction on Thursday, with the midcap index hitting a two-week peak as investors evaluated a variety of corporate results and pondered interest rate prospects following data indicating a decline in consumer spending.
The FTSE 100 gained 0.4% by 1100 GMT, while the midcap index rose 0.6%. Traders carefully watched comments from Shell, after the company refuted reports of takeover talks to acquire BP. Shares in both energy corporations rose slightly.
Industrial and precious metal miners were among the top performers, benefitting from a weaker dollar which made resources cheaper for non-dollar buyers. Key players like Fresnillo and Anglo American surged by over 2%.
(With inputs from agencies.)
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