Dec 29 (Reuters) - London's blue-chip index gained ground on Thursday, led by financial and commodity stocks, as investors parsed a mixed bag of corporate earnings. The FTSE 100 rose 0.5% by 1129 GMT,
UK's FTSE 100 rebounds as financial, energy stocks gain
Market Overview and Key Movers
Jan 29 (Reuters) - London's blue-chip index ended higher Thursday, led by financial and energy stocks, as investors parsed a mixed bag of corporate results.
Financial Sector Performance
The FTSE 100 closed up 0.2%, after hitting a record high earlier in the session. Meanwhile, the domestically focused FTSE 250 bucked the trend, falling 0.5%.
Energy Sector Insights
Investment company 3i Group surged 8.8% to lead the gainers on the FTSE 100 after it delivered a strong third-quarter update. That made the investment banks and brokerages index among the session's top performers, rising 3%.
Corporate Earnings Impact
Banking shares rebounded from Wednesday's losses, and were up 0.5%. Lloyds Banking Group rose 0.1% after the bank reported a better-than-expected 12% rise in annual profit.
Energy stocks also advanced 2.1%, supported by higher oil prices amid rising concerns that a U.S. strike on Iran could disrupt supply. [O/R]
On the trade front, Britain's Prime Minister Keir Starmer and China's President Xi Jinping hailed a reset of ties, pledging to build an economic partnership with deals including a major investment by AstraZeneca. The pharmaceutical giant's shares were marginally down on the day.
Back in the markets, Antofagasta rose 2.1% after copper scaled a new peak amid a broad metals rally. The industrial metal miners index climbed 1% to its highest level in one year.
Wall Street's indexes hit a one-week low as another wave of hefty AI spending from U.S. Big Tech rattled investors.
Among other UK stocks, Wizz Air rose 11% after the budget carrier posted a smaller-than-expected third-quarter loss.
(Reporting by Tharuniyaa Lakshmi in Bengaluru; Editing by Sahal Muhammed and Hugh Lawson)
