UK FTSE 100 closes up about 0.7% at near one-week high
London’s FTSE 100 closed about 0.7% firmer at 10,832 after two sessions of losses as bond markets stabilized and commodity prices rose. Services PMI activity expanded in August, while telecom and precious metals supported.
London’s FTSE 100 gained ground to close about 0.7% firmer at a near one-week high of 10,832 on Thursday, after two sessions of losses, as bond markets stabilized, while firmer commodity prices also provided support.
Meanwhile, Middle East tensions kept oil prices elevated.
On the domestic front, final PMI data confirmed activity across Britain’s dominant services sector expanded more solidly in August.
Precious metals miners Endeavour Mining and Fresnillo were among the top performers, up 3.6% and 2.9%. respectively, mainly benefiting from rising prices of gold.
Telecommunication companies also provided support.
Vodafone Group PLC shares rose 2.4% after its VodafoneThree subsidiary unveiled a new television and entertainment service, taking on rivals including Sky, BT and Virgin Media O2.
Airtel Africa also advanced firmly, adding more than 2%.