FTSE 100 Surges to Record High Amid Positive Corporate Updates

Britain's benchmark index, the FTSE 100, reached a record high as investors reacted positively to strong corporate updates and soothing comments by U.S. Federal Reserve Chair Jerome Powell. Companies like Shell and Watches of Switzerland Group contributed significantly to the index's rise, while the pound's slip bolstered export-heavy firms.


Devdiscourse News Desk | Updated: 30-01-2025 17:59 IST | Created: 30-01-2025 17:59 IST
FTSE 100 Surges to Record High Amid Positive Corporate Updates
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The FTSE 100, Britain's benchmark index, touched a record high on Thursday, buoyed by favorable corporate updates and calming remarks by U.S. Federal Reserve Chair Jerome Powell. Investors cheered as the index neared the significant 8,600 mark, rising 0.4% to 8,595.79 points by midday.

Energy giant Shell aided the index's climb by advancing 1.3% following its impressive fourth-quarter results and a $3.5 billion share buyback announcement. The personal goods sector led sectoral gains, spiking 3.2%, propelled by a 4% rise in Watches of Switzerland Group's shares.

On the mid-cap FTSE 250, a highlight was St James's Place's 9.1% surge post its robust fund performance announcement. Airtel Africa also saw a 10% rise, reflecting its strong nine-month revenue. Contrarily, Wizz Air slumped 7% amid its second profit warning in six months. Overall, market calm was maintained thanks to Powell's reassurance on monetary policy.

(With inputs from agencies.)

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