FX.co ★ FTSE 100 Extends Gains In Cautious Trade

United Kingdom stocks reached a new all-time high on Wednesday. However, the overall increase was modest ahead of earnings announcements from major US technology and growth companies.

The FTSE 100, UK's leading stock index, rose by 35 points or 0.4 percent, reaching 8,080. This upturn marks the sixth consistent trading session with gains.

Sound Energy, a leading upstream gas producer, saw its shares drop by 2.6 percent. This was in response to a reported loss for the fiscal year 2023 and expressed concerns about the company's longevity.

Filtronic, an engineering group, experienced a stock hike of 48 percent following the announcement of a strategic alliance and commercial agreement with Space Exploration Technologies Corp.

Fresnillo, a mining company, saw its share price drop by around 1 percent after a reported decrease in gold and silver production for the first quarter.

Despite confirming its fiscal year 2024 margin projection, Lloyds Bank saw its shares slip by half a percent.

Conversely, Reckitt Benckiser, a global consumer goods company, enjoyed a 5.4 percent jump in stock price. This surge came as a result of reported first-quarter net revenue growth of 1.5 percent on a like-for-like basis.