The FTSE 100 experienced positive momentum, building on previous gains, propelled by strong corporate performance and improved global sentiment. The index saw gains due to a significant rise in Spirax shares, boosted miner stocks, and positive influence on financials and energy companies tied to China, further supported by encouraging UK employment data.
- The FTSE 100 rose 0.2% on Tuesday, following a 0.4% gain on Monday.
- Spirax shares surged 12% after better-than-expected earnings.
- Citi analysts viewed Spirax’s results as “encouraging,” suggesting potential for forecast beats.
- Miners gained due to the US–China trade truce extension.
- Bank stocks with China exposure (Standard Chartered and HSBC) and Shell rose.
- UK payrolls fell by only 8,000 in July, less than the 20,000 forecast.
- Unemployment held steady at 4.7%.
- Private-sector wage growth, excluding bonuses, slightly eased to 4.8% from 4.9%.
Overall, the market performance indicates a strengthening position for the FTSE 100, driven by a combination of company-specific success, favorable external factors such as trade relations and commodity prices, and supportive domestic economic indicators. The positive movement in certain sectors suggests growing confidence and potential for continued upward trajectory.