(Reuters) - Britain's benchmark index touched a record high on Thursday as investors cheered a healthy set of corporate updates, while comments by U.S. Federal Reserve Chair Jerome Powell also soothed
FTSE 100 Reaches All-Time High, Driven by Precious Metal Miners
(Reuters) - Britain's benchmark index closed at record peak on Thursday as investors cheered a healthy set of corporate updates, while a surge in precious metal miners also boosted the index.
The blue-chip FTSE 100 closed at record-high and smashed through the psychological 8,600 mark. It closed up 1% at 8,646.88 points.
The midcap FTSE 250 rose 1.2%, at its highest level in nearly a month.
Precious metal miners hit its highest in over a month, boosted by an 7.2% jump in Endeavour Mining after it reported its 2024 production results.
The boost also came after gold prices hit a record-high. [GOL/]
Heavyweight Shell was one of the biggest boosts to the index, rising 2.6%, after the energy giant reported its fourth-quarter results and announced a $3.5 billion share buyback.
The oil and gas sector rose 2.2%.
The personal goods sector advanced 5.9.2% after Watches of Switzerland Group rose 4%.
St James's Place jumped 6.7% after the British wealth manager reported better-than-expected managed funds for 2024.
Airtel Africa soared 10.9% after the telecommunications & mobile money services provider reported upbeat figures for nine-month revenue.
Meanwhile, limiting gains on the mid-cap index was a 5.5% drop in European low-cost airline Wizz Air after a second profit warning in six months.
Apart from earnings, investors also were calmed by comments from Fed chair Powell after the U.S. central bank held interest rates steady. He said, "we do not need to be in a hurry to adjust our policy stance" and monetary policy is "well positioned" for the challenges at hand. [.N]
The European Central Bank cut interest rates by 25 basis points after kept the door open to further policy easing, boosting all major regional bourses. [.EU]
Investors will get a reading of house prices in Britain for January. Across the pond, data showed U.S. economic growth slowed in the fourth quarter, while December's personal consumption expenditures price index data is expected on Friday.
(Reporting by Pranav Kashyap in Bangalore; Editing by Sonia Cheema and David Evans)
