Capital Com MENA Securities Trading LLC is regulated by the Capital Market Authority.
Open platformOpen platform

London's FTSE 100 rises as Shell boosts energy stocks

By Reuters News

Oct 29 - London's blue-chip index rose on Thursday, supported by gains in the energy sector, while investors awaited crucial inflation data in the US to gauge the Federal Reserve's monetary policy.

The blue-chip FTSE 100 index .FTSE rose 0.3% to 10,782.19 points by 1004 GMT, while the midcap FTSE 250 .FTMC also climbed 0.3%.

  • Shell SHEL.L rose 3.2%, leading gains on the FTSE 100 after the oil major reported its highest quarterly profit since 2022, and increased its share buyback program

  • Energy stocks .FTNMX601010 outperformed the broader market, with the sector climbing nearly 2.8% despite a dip in oil prices

  • Conversely, Haleon HLN.L slid 15.6%, set for its biggest one-day fall since its IPO in 2022 after the consumer health company cut its organic revenue growth forecast

  • Haleon's slide put the pharma sector .FTNMX201030 on track for another session of sharp declines, after GSK's results on Wednesday disappointed

  • Declines in pharma and banks .FTNMX301010 limited the overall rise. Banks were dragged down by a 4.3% fall in Lloyds Banking Group LLOY.L after it reported muted third-quarter results

  • Finance minister John Healey's less-than-feared tax hikes in his budget on banks and gambling firms had sparked a rally in their stocks on Wednesday

  • British defence firms BAE Systems BAES.L and Rolls-Royce RR.L gained 2.6% and 1.1% respectively, extending gains after Healey said "reprioritisation" would fill a £4.7 billion ($6.3 billion) gap in Britain's Defence Investment Plan

  • The US Federal Reserve held interest rates steady on Wednesday, bringing Thursday's personal consumption expenditure figures under scrutiny

  • National Grid NG.L rose 1.1% after the power grid operator said it plans to invest about £400 million ($531 million) to extend the life of the electricity link between Britain and France until at least 2050

  • WPP WPP.L gained 2.1% after the ad group said its turnaround plan was on track after reporting a smaller decline in third-quarter like-for-like revenue

Capital.com is an execution-only brokerage platform and the content provided on the Capital.com website is intended for informational purposes only and should not be regarded as an offer to sell or a solicitation of an offer to buy the products or securities to which it applies. No representation or warranty is given as to the accuracy or completeness of the information provided.

The information provided does not constitute investment advice nor take into account the individual financial circumstances or objectives of any investor. Any information that may be provided relating to past performance is not a reliable indicator of future results or performance.

To the extent permitted by law, in no event shall Capital.com (or any affiliate or employee) have any liability for any loss arising from the use of the information provided. Any person acting on the information does so entirely at their own risk.

Any information which could be construed as “investment research” has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication.