FX.co ★ FTSE 100 Rises to 7-Week High

The FTSE 100 rose 1% to 10,840 on Thursday, its highest level since August 26, as defensive stocks helped London outperform global markets rattled by worries over the artificial intelligence sector. Sentiment was further buoyed by stronger-than-expected UK economic data: GDP grew 0.1% in August, following a 0.4% expansion in July, confounding expectations of a contraction. The index’s relatively low exposure to technology shares also proved beneficial in the current environment.

Pharmaceutical stocks led the gains. AstraZeneca climbed more than 3% after announcing a collaboration with biotech start-up Insitro to develop treatments for liver and heart diseases. GSK advanced nearly 3%, while Unilever rose more than 1.5% and British American Tobacco added over 2%.

In contrast, mining stocks dragged on the index. Antofagasta dropped 3.8% after missing third-quarter copper production forecasts and cutting its 2027 outlook. Rio Tinto fell 1.7%, and Anglo American also ended the session lower.