Blue-Chip Index Gains: Financial Stocks Propel FTSE 100 Upwards

The FTSE 100 climbed 0.5% on Thursday, driven by financial and commodity stocks, as UK investors reviewed mixed corporate earnings. Investment firms led performance, with 3i Group soaring 10.5%. Political accords between the UK and China aim to boost economic ties, impacting stocks like AstraZeneca.

The UK's blue-chip FTSE 100 index gained 0.5% on Thursday, buoyed by strong performances in financial and commodity stocks. This follows a previous session's loss of the same margin, as investors dissected mixed corporate earnings reports.

Investment firms were standout performers, with the sector index rising 4%. Notably, 3i Group surged 10.5%, marking its biggest single-day gain in over six months, following a robust third-quarter update. Among banking stocks, Lloyds Banking Group saw a 1.2% rise after it reported a better-than-expected 12% increase in annual profit.

In geopolitical developments, UK Prime Minister Keir Starmer and China's President Xi Jinping are spearheading a reset in economic relations, highlighted by a major AstraZeneca investment. Mining stocks also rose, with indexes for precious and industrial metals reaching significant highs. Meanwhile, energy stocks saw a 1.8% uplift amid concerns over U.S.-Iran tensions potentially affecting oil supply.