04.09.202516:09:10UTC+00UK Stocks End at 1-Week High

On Thursday, the FTSE 100 saw an upward trend, closing approximately 0.4% higher at 9,217, marking its highest point in a week. This increase extended gains into a second consecutive day, attributed to some stabilization in global bond markets after recent fluctuations. Investors are now eagerly awaiting the forthcoming US labor market data from ADP, fueled by heightened expectations of a potential interest rate cut by the US Federal Reserve.

On the corporate front, shares of FTSE 250-listed company Currys soared over 15% after delivering a positive update, which in turn drew attention to other retail sector stocks such as Next, JD Sports, Kingfisher, and Marks & Spencer. Financial institutions and real estate companies also experienced gains.

Conversely, at the lower end of the index, easyJet's shares dropped by 4.2%, while Iberia's parent company, IAG, saw a slight decline of 0.3%. This was in response to Jet2 adjusting its earnings guidance due to challenging market conditions. Additionally, shares of copper producer Antofagasta, bookmaker Entain, and gold miner Endeavour reported declines. Rolls-Royce's shares decreased by 1.2% after UBS highlighted potential downturn risks in the aerospace aftermarket and subsequently adjusted its price target downward.