London's FTSE 100 rises as Shell boosts energy stocks
EWU•The FTSE 100 rose 0.3% to 10,782.19 points, with Shell up 3.2% after reporting its highest quarterly profit since 2022 and increasing its share buyback program. Investors awaited US inflation data.
1. Energy stocks lead gains
London's FTSE 100 rose 0.3% by 1004 GMT on Thursday, while the FTSE 250 also gained 0.3%. Energy stocks climbed nearly 2.8% despite a dip in oil prices. Shell gained 3.2% after reporting its highest quarterly profit since 2022 and increasing its share buyback program.
2. Other shares move lower
Haleon fell 15.6% after cutting its organic revenue growth forecast, while Lloyds Banking Group dropped 4.3% after reporting muted third-quarter results. BAE Systems and Rolls-Royce rose 2.6% and 1.1%, respectively, and National Grid gained 1.1% after announcing plans to invest about £400 million to extend the life of its electricity link with France until at least 2050. WPP rose 2.1% after saying its turnaround plan was on track.
3. Investors await US data
Investors awaited US personal consumption expenditure figures to gauge the Federal Reserve's monetary policy after the Fed held interest rates steady on Wednesday.
