23.10.202515:57:08UTC+00FTSE 100 Rises to Record High

The FTSE 100 advanced by 0.7% to reach 9,582 on Thursday, setting a new record high. This rise was largely fueled by robust performances in energy stocks and positive earnings reports. Notable contributors included BP, which rose by 3.7%, and Shell, up by 3.2%, amid escalating crude oil prices following President Donald Trump's imposition of sanctions on Russian entities Rosneft and Lukoil. This move is part of a renewed strategy to end the conflict in Ukraine. In the metals sector, shares in Fresnillo increased by 5.9% and Endeavour by 4%, as gold prices halted their two-day decline.

Regarding corporate updates, Rentokil's shares surged by 9.8% after the pest control company confirmed its full-year forecast and demonstrated growing sales momentum in the U.S., alleviating concerns about the integration of Terminix. Additionally, the London Stock Exchange Group’s shares rose by 6.7% following an increase in its profit margin forecast, the announcement of a £1 billion share buyback program, and the unveiling of a significant £1.15 billion deal with 11 major banks to invest in its Post Trade Solutions division, enhancing both profitability and margins. Meanwhile, Burberry's shares climbed by 3%, supported by favorable outcomes reported by competitor Kering.