(Reuters) -London's main stock indexes rose on Thursday, with the blue-chip index hitting an all-time intraday peak, boosted by upbeat corporate results and optimism over a potential EU-U.S. trade
FTSE 100 Hits All-Time High Amid US-EU Trade Deal Hopes and Earnings Surge
Market Overview and Sector Performance
(Reuters) -Britain's FTSE 100 rose on Thursday to a record close, boosted by upbeat corporate results and optimism over a potential EU-U.S. trade agreement.
Sector Gains and Losses
The benchmark FTSE 100 closed up 0.9% at 9,138.37 points. The domestically oriented midcap FTSE 250 gained 0.6%.
Company News Highlights
The personal care and grocery stores index led sectoral gains, up 2.6%, boosted by Reckitt, up 9.9%, after the consumer goods company raised its annual revenue forecast.
Economic Indicators and Future Outlook
Healthcare stocks rose 1.9% with AstraZeneca up 2.1% after the drugmaker's rare immune disorder drug succeeded in an advanced trial.
GSK added 1.4% after the U.S. Food and Drug Administration on Wednesday extended its review of the drugmaker's blood cancer drug.
Media stocks advanced 2.3%, led by ITV, which rose 13.3% after the broadcaster's half-year results beat forecasts.
Conversely, precious metal miners fell 1.4%, tracking a drop in gold prices. Endeavour Mining fell 1.3%, and Fresnillo was down 2.1%.
In company news, BT Group advanced 10.4%, topping the FTSE 100 index, after the telecom firm named Patricia Cobian as its first female chief financial officer.
Howden Joinery soared 8.9% after reporting a rise in first-half profit.
Vodafone gained 3.4% after reporting a 5.5% increase in organic service revenue in the first quarter.
Airtel Africa soared 7.3% after posting higher quarterly results.
Anglo American's copper and diamond production fell in the first half of the year. Shares of the miner edged 0.9% down.
BP will exit its planned green hydrogen production facility in Australia as it pivots back to oil and gas, a spokesperson said. Shares of the energy major were down 1.7%.
Meanwhile, an EU spokesperson signalled that a U.S.-EU deal was within reach, which would result in broad 15% import tariffs on the 27-member bloc.
Additionally, surveys showed British companies are struggling to grow and the job market continues to weaken, but inflation pressures are still lurking in the economy.
A Reuters poll showed the Bank of England is expected to cut interest rates in August and November with steady economic growth anticipated.
Britain and India also signed a free trade agreement.
(Reporting by Sukriti Gupta; Editing by Sahal Muhammed and Ed Osmond)
