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FTSE 100 Rises Led by BP PLC, While Fresnillo PLC Faces Significant Drop

Published 12/10/2023, 19:38
© Reuters.
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The FTSE 100 Index in the UK closed on Thursday with an increased value of 7,644.78, marking a rise of 0.32%. Major oil & natural gas company BP (NYSE:BP) PLC led the surge with a 3.04% increase in shares, contributing significantly to the overall uplift of the index.

Other companies that played a role in the FTSE 100's rise included Hikma Pharmaceuticals (OTC:HKMPY) PLC, Sage Group (LON:SGE) PLC, Ferguson PLC, and CRH (NYSE:CRH) PLC. These firms saw their shares rise between 1.87% and 1.97%, adding to the positive momentum of the market.

However, not all companies on the index experienced gains. Precious metals company Fresnillo (LON:FRES) PLC saw a substantial drop in its shares by 3.19%. Other companies that faced declines included Barclays PLC, Ocado (LON:OCDO) Group PLC, Croda International PLC, and Antofagasta (LON:ANTO) PLC. Their shares fell between 2.26% and 3.12%, counteracting some of the overall market gains.

In currency markets, the pound weakened against both the dollar and the euro. In commodity markets, Brent crude saw an increase, rising to $86.10. Additionally, there was an uptick in the yield on the 10-year gilt which increased to 4.422%, indicating a shift in investor sentiment towards riskier assets.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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