11.12.202517:05:18UTC+00FTSE 100 Up for 2nd Day

The FTSE 100 index saw a 0.4% increase on Thursday, building on a modest 0.1% gain from the previous day. This rise was largely driven by the upward movement in gold prices, which benefited precious-metal mining companies such as Fresnillo, which gained nearly 4%, and Endeavour, which rose almost 3%. Major companies like HSBC, AstraZeneca, Unilever, and GSK posted gains ranging from 0.4% to 0.7%. In addition, both Rio Tinto and Barclays saw increases of over 1%. However, these gains were somewhat offset by declines in other sectors: Informa fell by 3%, BAE Systems by 1.3%, and Rolls-Royce by 0.6%. Concerns around AI investments and high valuations in the tech sector, which were alleviated after Oracle's recent update, may have contributed to the stronger performance in UK equities. Traders also increased their expectations for Bank of England interest rate cuts in 2025, with the GDP figures set to be released on Friday potentially influencing these forecasts.