FTSE 100 Index Celebrates Biggest Weekly Gain Amid Varied Sector Performances

The FTSE 100 index recorded its largest weekly increase since October 2022, despite a mixed day of trading. House builders, oil prices, and companies like Rentokil and Sainsbury bolstered the index. Market movements reflected reactions to interest rate adjustments and economic forecasts amid varied sector performances.

Britain's FTSE 100 index reported its most significant weekly rise since October 2022, closing the week with diverse sector performances before the Easter break. Rentokil led the index with a 5% surge, while Sainsbury's saw a 3.6% increase as it projected stable profits despite potential industry price wars.

The mid-cap FTSE 250 index noted a slight 0.08% dip but was still up on the week, achieving its largest gain since January. Positive sentiment was fueled by a boost in house builders' stocks, which rose 1.3% after the European Central Bank's interest rate cut and the possibility of a May rate cut by the Bank of England.

The energy index climbed 0.5% following a two-week high in oil prices. However, declines were observed in the automobiles and defense sectors, while the mining sector saw its best weekly performance due to rising gold prices. Deliveroo's orders increased 7% in the first quarter, topping last quarter's numbers.

(With inputs from agencies.)