London Stocks Surge Amid Earnings and Inflation Insights
London stocks gained on Thursday, driven by industrials and banks, as investors analyzed corporate earnings and U.S. inflation data. The FTSE 100 rose 0.8%, spurred by aerospace and defense stocks achieving record highs, while healthcare and banking stocks also ascended. Conversely, energy and personal goods stocks declined.
London stocks rose on Thursday, propelled by gains in industrials and bank stocks, as investors evaluated corporate earnings reports and newly released U.S. inflation data. The blue-chip FTSE 100 index saw its best day in over three weeks, closing up 0.8%, while the mid-cap index increased by 0.7%.
Aerospace and defense stocks in London hit a new peak, with BAE Systems rising 6.3%, Babcock gaining 2.7%, and Rolls-Royce up by 2.2%. Despite setbacks in energy and personal goods sectors, notable progress was recorded in healthcare and banking, with GSK increasing by 1.9% and major banks like HSBC and Barclays advancing.
Meanwhile, despite the boost in some sectors, energy stocks saw a slight decline, influenced by falling oil prices. In economic developments, the European Central Bank maintained its interest rates and British finance minister Rachel Reeves pledged tax reforms to stimulate small business growth.
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