The FTSE 100 closed higher on Thursday, extending gains for a second day as global bond markets showed signs of stabilization. Investor focus shifted to upcoming US labor market data, influencing rate cut expectations. Performance was varied, with gains in financials, real estate, and select retail stocks outweighing declines in airlines and some commodity-related sectors.
- The FTSE 100 closed approximately 0.4% higher at 9,217.
- This marks the highest level in a week for the index.
- Investor attention is focused on upcoming US labor market data from ADP.
- Currys shares (FTSE 250) jumped over 15% following a positive update, boosting other retail stocks like Next, JD Sports, Kingfisher, and Marks & Spencer.
- Financials and real estate companies experienced gains.
- easyJet and IAG shares declined after Jet2 lowered its earnings guidance.
- Antofagasta, Entain, and Endeavour shares also decreased.
- Rolls-Royce shares fell 1.2% after a price target cut by UBS due to aerospace concerns.
The index’s upward movement suggests a generally positive sentiment influenced by external economic factors and specific company news. However, the declines in certain sectors highlight existing vulnerabilities within the market. The performance indicates a complex interplay of forces affecting investor confidence, with opportunities and risks apparent across different industries.