Britain’s benchmark FTSE 100 closed a shade higher on Thursday with mining stocks leading gains, tracking higher metal prices in a choppy session as investors looked for new developments on the trade front, while a drop in Wizz Air shares hit midcaps.
The blue-chip index FTSE 100 closed 0.1% higher, marking its fifth consecutive single-day gain, while the midcap index fell 0.2%.
Industrial metal miners were among the top gaining sub-sectors, up 1.8% as copper prices touched a two-month high. A gauge for precious metal miners also climbed 3.5%.
Losses in advertising group WPP and top food retailer Sainsbury’s kept a lid on gains in the blue-chip index, as their shares traded without entitlement to a dividend.
Among midcaps, Wizz Air plunged 27.9% after the budget carrier reported an approximately 62% slide in annual operating profit, citing capacity constraints due to grounded planes.
Other airline stocks like easyJet and ICAG declined about 1% each.
On the flip side, Dr Martens jumped 25.8% after the bootmaker forecast a return to profit growth in the current financial year.
Global stocks initially swung higher around midday after U.S. President Donald Trump and Chinese leader Xi Jinping had a phone call, agreeing to further talks between the countries to hash out differences on tariffs.
Elsewhere in Europe, the European Central Bank cut interest rates as expected, but hinted at a pause in its year-long easing cycle.
Back in Britain, construction firms reduced staff numbers last month at the fastest pace in nearly five years, reflecting higher wage costs and reduced demand, a survey showed.
U.S. non-farm payrolls data due out on Friday will also command attention with investors watching for any signs of weakness in the U.S. labour market, which could influence the Federal Reserve’s stance on monetary policy.
Comments
Comments are closed for this article.