The FTSE 100 experienced an impressive surge of 1.1% on Thursday, marking its most significant uptick since late November. The rise was primarily driven by strong performances in commodity-linked stocks and precious metals miners, as safe-haven demand pushed gold prices to a two-week high.
Energy stocks also made notable gains, with BP and Shell climbing due to positive market sentiment around potential stimulus for China’s economy. However, homebuilders saw a decline of 0.9%, suffering the biggest sectoral losses as British factory activity faltered amid higher taxes and falling foreign demand.
The FTSE 100 ended with a 5% increase for 2024, its fourth consecutive year of growth. The Bank of England has initiated a monetary policy easing cycle, though it plans to proceed cautiously, monitoring the inflationary impact of recent tax hikes. Traders are predicting over 59 basis points in rate cuts after two reductions in…
