FX.co ★ FTSE 100 Rises Led by Shell

The FTSE 100 closed 0.5% higher on Thursday, lifted by gains in energy stocks and several major blue-chip names. Shell climbed more than 3% to a record high after announcing a $5 billion share buyback for the fourth quarter, up from $3 billion previously. The group cited robust refining margins and higher earnings, supported by market disruptions stemming from the war in Ukraine and conflict involving Iran. BP added 1.2%, while AstraZeneca and Unilever each advanced more than 1%, and British American Tobacco rose 0.8%.

Gains were capped, however, by weakness in banking and consumer healthcare shares. Lloyds Banking Group fell nearly 3% despite beating third-quarter profit forecasts, as investors were disappointed that guidance was left unchanged. Net interest income rose 10% year on year to £3.8 billion. Haleon slumped more than 11% after cutting its full-year revenue outlook, even as it unveiled plans for up to £500 million in share buybacks.