FX.co ★ FTSE 100 Modestly Higher As Metal Stocks Surge

On Thursday, U.K. stocks moved upward, buoyed by increased commodity prices that boosted resource stocks. Concurrently, U.K. house prices rose for the fourth consecutive month, reaching a new peak in October. However, according to mortgage provider Halifax, future price growth is anticipated to be more measured due to decelerated interest rate reductions by the Bank of England and newly implemented government policies potentially tempering demand.

House prices increased by 0.2% from September, aligning with forecasts, following consecutive gains of 0.3% in both August and September.

The FTSE 100 index advanced by 10 points, or 0.1%, to 8,177, after a slight dip in the previous session.

In the mining sector, companies such as Anglo American, Antofagasta, and Glencore each saw rises of approximately 3%, while energy leader Shell experienced a 1% growth.

Contrarily, J Sainsbury saw a 3% decline as the supermarket chain maintained its full-year profit growth projection capped at 10%.

Telecommunications firm BT Group dropped nearly 6% after revising its revenue expectations downward, citing a weakening outlook for its business sector.

Meanwhile, Rolls-Royce Holdings fell by 4.5% following reports that ongoing supply chain challenges continue to affect production.