FX.co ★ UK Stocks Rebound on Thursday

The FTSE 100 experienced a rise on Thursday, recovering from losses in the previous session. Investor sentiment was buoyed following Prime Minister Keir Starmer’s public endorsement of Chancellor Rachel Reeves. Wednesday's market upheaval had been triggered by Starmer's silence during Prime Minister's Questions, which led to conjecture about Reeves’s future and caused a drop in the pound alongside a significant increase in gilt yields. Starmer's assurance to the BBC that Reeves would serve as Chancellor "for many years to come" provided stability to the markets, resulting in a recovery for UK bonds and the pound. Lloyds Banking emerged as a top performer, increasing nearly 2%, while NatWest and British American Tobacco saw gains of approximately 1%. Oil giants Shell and BP also experienced modest upticks. Additionally, Currys surged by over 5% following a robust annual report.