FTSE 100 Modestly Higher As Metal Stocks Surge
2024-11-02
3789
(fxcue news) - U.K. stocks traded higher on Thursday as higher commodity prices lifted resource stocks.
Meanwhile, U.K. house prices increased for the fourth straight month to hit a record high in October, but prices are expected to climb at a moderate pace as slower interest rate cuts by the Bank of England and new government policies might damp demand, mortgage lender Halifax said.
House prices grew 0.2 percent from September, as expected. This follows a 0.3 percent gain each in August and September.
The benchmark FTSE 100 was up 10 points, or 0.1 percent, at 8,177 after finishing marginally lower on Wednesday.
Miners Anglo American, Antofagasta and Glencore all rallied around 3 percent while energy giant Shell added 1 percent.
J Sainsbury tumbled 3 percent as the supermarket group kept its forecast for full-year profit growth of up to 10 percent.
Telecoms company BT Group lost nearly 6 percent after cutting revenue expectations due to a weak outlook for its business department.
Rolls-Royce Holdings declined 4.5 percent after the engine maker said supply chain issues are continuing to hamper production.
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