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FTSE 100 advances as Rolls-Royce and Glencore gain ahead of BoE rate call
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FTSE 100 advances as Rolls-Royce and Glencore gain ahead of BoE rate call
Apr 30, 2026 3:29 AM

(For a Reuters live blog on U.S., UK and European stock

markets, click or type LIVE/ in a news window)

April 30 (Reuters) - London's FTSE 100 index rose on

Thursday, with upbeat results from Rolls-Royce and Glencore ( GLCNF )

aiding the sentiment ahead of a Bank of England rate decision.

The blue-chip FTSE 100 rose 0.9% to 10,307.19 points

by 0942 GMT, while the midcap FTSE 250 edged 0.4%

higher.

* Engineering firms were mixed as Rolls-Royce climbed

nearly 6.8% after reiterating its profit outlook, offering the

biggest boost to the benchmark index, while Weir Group ( WEIGF )

slid 7.5% after reporting a fall in first-quarter orders.

* Glencore ( GLCNF ) shares added 2% after reporting a

19% rise in its first-quarter copper production.

* Global oil prices jumped to a four-year high of more than

$122 a barrel on concerns that the U.S.-Iran war could worsen

and lead to a protracted Middle East oil supply disruption.

* Rising crude prices stoked inflation worries, bolstering

gold prices, which in turn lifted shares of heavyweights

Endeavour Mining ( EDVMF ) and Hochschild by 6.2% and

5.1%, respectively.

* The FTSE 100 is up only 1.3% this month, far below

European and U.S. benchmarks, as markets view Britain as highly

vulnerable to the jump in energy prices due to the country's

heavy use of natural gas.

* Political concerns have also weighed with the scandal

around Prime Minister Keir Starmer appointing Peter Mandelson,

who was linked to the late convicted U.S. sex offender Jeffrey

Epstein, as ambassador to the U.S., showing little sign of

abating.

* The BoE is expected to keep rates unchanged at 1100 GMT

with focus squarely on commentary on the Iran war's longer-term

impact on inflation.

* The European Central Bank is also seen holding rates later

on Thursday, a day after the U.S. Federal Reserve stayed pat.

* Traders expect the BoE to raise interest rates at least

twice by 25 basis points before the end of the year.

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