Key Points
- The UK’s main stock index, the FTSE 100, closed up 0.49% on Thursday.
- Gains in the industrial, mining, and travel sectors drove the market higher.
- Smurfit WestRock was the day’s top performer, with its stock jumping over 5%.
- Informa was the biggest decliner on the index, falling more than 3%. In the wider markets, gold prices surged while oil prices dropped.
UK stocks climbed on Thursday, closing out the session with solid gains. The FTSE 100 index rose 47.63 or 0.49% to 9,703.16, a strong showing from the industrial, mining, and travel sectors, which lifted the market into positive territory.
Leading the pack was the packaging company Smurfit WestRock, whose shares jumped an impressive 5.16%. Equipment rental firm Ashtead Group also had a great day, adding 4.70% to its stock price. Retailer JD Sports Fashion rounded out the top performers, with its stock rising 3.55%.
It wasn’t a good day for everyone, however. On the downside, media group Informa was the biggest loser on the index, falling 3.29%. Medical technology company Smith & Nephew and betting firm Entain also ended the day in the red, with declines of 2.76% and 2.19% respectively.
Overall, the mood on the London Stock Exchange was positive. More stocks gained than lost, with 985 companies seeing their shares rise compared to 775 that fell.
Elsewhere in the markets, there were some significant moves. The price of gold surged over 2%, a notable jump for the precious metal.
In contrast, crude oil prices fell by about 2%. In currency markets, the British pound held steady against both the U.S. dollar and the euro, while the U.S. Dollar Index weakened.
