Daily market update: FTSE 100 edges higher as AstraZeneca, GSK and Unilever rally while Rio Tinto slides
London's blue chips are modestly higher in early Thursday trading, with healthcare and consumer heavyweights rising and Rio Tinto falling, after a weaker session for US technology shares.
London is in its first hour of trading, so UK figures below are early-session snapshots. US figures are from Wednesday's close.
Indices
- FTSE 100: 10,768.52, up 0.41% on the previous close
- FTSE 250: 24,336.94, down 0.1%
- S&P 500: 7,718.94, down 1.11% at Wednesday's close
Sterling is broadly flat against the dollar at $1.3256 (-0.01%) and slightly weaker against the euro at €1.1813 (-0.19%). Currency moves affect the sterling value of US holdings for UK investors.
Portfolio movers
Risers (London, early trading)
- AstraZeneca: 12,484p, up 4.94%
- GSK: 1,832.5p, up 4.54%
- Unilever: 4,920.5p, up 4.46%
- Lloyds Banking Group: 105.45p, up 1.01%
- Shell: 3,888.68p, up 0.6%
Fallers (London, early trading)
- Rio Tinto: 6,624p, down 5.33%
- Barclays: 431.4p, down 1.07%
- HSBC: 1,421p, down 0.68%
US (Wednesday's close)
US technology shares were mostly lower:
- Meta Platforms: $737.54, down 3.27%
- Nvidia: $221.30, down 3.16%
- Tesla: $367.16, down 2.15%
- Microsoft: $533.69, down 1.8%
- Amazon: $254.08, down 1.74%
- Alphabet: $347.64, down 1.74%
- Apple: $342.96, up 0.5%, bucking the trend
In the news
- UK growth data: Headlines this morning report that British stocks rose after stronger-than-expected UK GDP data outweighed a global technology sell-off and hotter-than-expected US inflation.
- Sector moves: Market reports point to tobacco and defensive shares leading the FTSE 100, offsetting a sell-off in mining stocks.
- Global chip sell-off: Reports link the sell-off in chip shares to hotter US inflation, bets on a Federal Reserve rate hike and doubts over funding the artificial intelligence buildout.
- US futures: Headlines overnight said US stock futures fell as the hot inflation reading revived concerns about a Fed rate hike.
In summary, the FTSE 100 is slightly firmer in early trade, with gains in healthcare and consumer names outweighing weakness in Rio Tinto and some banks, after a softer day for US tech.
Figures are indicative and may be delayed. This is general information, not advice.
This content is general information, not personal financial advice. Tax rules, rates and allowances can change; check the latest position on gov.uk.