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London’s benchmark index gained momentum on Thursday, buoyed by robust performances in financial and commodity stocks, as investors analysed a slew of corporate earnings reports. The FTSE 100 advanced 0.75%, rebounding from a 0.5% drop in the previous session. On the diplomatic front, UK Prime Minister Keir Starmer and Chinese President Xi Jinping celebrated a revitalised partnership between the two nations, pledging to deepen economic ties. This included a notable investment agreement featuring AstraZeneca, though shares of the pharmaceutical giant dipped slightly during the day.

Financial stocks were the session’s standout performers, with the sector index surging 4%. Leading the charge was 3i Group, which skyrocketed 10.5% to claim the top spot on the FTSE 100 leaderboard. The company’s strong third-quarter update drove its largest single-day gain in over six months. Banking stocks also rebounded, climbing 0.9% after Wednesday’s downturn. Lloyds Banking Group shone in particular, rising 1.2% on the back of an impressive 12% annual profit increase, surpassing expectations.

Mining stocks sparkled as well, with the precious metal miners index hitting a record high, up 3%, supported by elevated gold prices. Industrial metal miners followed suit, with their index climbing 3.6% to reach a one-year peak. Glencore saw a 3.8% rise despite forecasting an 11% drop in copper output for 2025, as the company benefited from higher grades and improved operational recoveries in the latter half of the year. Energy stocks joined the rally, advancing 1.8% amid a surge in oil prices driven by concerns over potential U.S. military action against Iran, which could disrupt global supply chains.

Meanwhile, the U.S. Federal Reserve kept interest rates unchanged on Wednesday, as widely anticipated. Chair Jerome Powell pointed to signs of a “clearly improving” economic outlook, offering a measure of reassurance to global markets. Investors remained focused on a packed earnings calendar, particularly results from major U.S. tech firms, as they sought insights into the future trajectory of AI investments.

Elsewhere in UK markets, budget airline easyJet faced headwinds, slipping 1% after reporting a wider-than-expected first-quarter loss. The airline attributed the disappointing results to expansion costs and softer winter pricing, which weighed on its performance.

TECHNICAL & TRADE VIEW - FTSE100

• Daily VWAP Bullish
• Weekly VWAP Bullish
• Above 10150 Target 10300
• Below 10070 Target 9950
   

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