FTSE 100 Rises Led by Shell
The FTSE 100 traded 0.5% higher on Thursday, supported by strength in energy stocks and several major blue-chip companies. Shell gained more than 3%, reaching a record high after announcing a $5 billion share buyback for the fourth quarter, up from $3 billion previously. The company reported strong refining profitability and higher earnings amid disruptions linked to the Iran war and the Russia-Ukraine conflict. BP also advanced 1.2%, while AstraZeneca and Unilever each rose more than 1%, and British American Tobacco gained 0.8%. However, banking and consumer healthcare stocks weighed on sentiment. Lloyds Banking Group fell nearly 3% despite beating third-quarter profit estimates, as investors were disappointed by unchanged guidance. Net interest income reached £3.8 billion, up 10% year over year. Haleon plunged more than 11% after cutting its full-year revenue outlook, despite announcing plans for up to £500 million in share repurchases.
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The FTSE 100 traded 0.5% higher on Thursday, supported by strength in energy stocks and several major blue-chip companies. Shell gained more than 3%, reaching a record high after announcing a $5 billion share buyback for the fourth quarter, up from $3 billion previously. The company reported strong refining profitability and higher earnings amid disruptions linked to the Iran war and the Russia-Ukraine conflict. BP also advanced 1.2%, while AstraZeneca and Unilever each rose more than 1%, and British American Tobacco gained 0.8%.
However, banking and consumer healthcare stocks weighed on sentiment. Lloyds Banking Group fell nearly 3% despite beating third-quarter profit estimates, as investors were disappointed by unchanged guidance. Net interest income reached £3.8 billion, up 10% year over year. Haleon plunged more than 11% after cutting its full-year revenue outlook, despite announcing plans for up to £500 million in share repurchases.