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FTSE 100 hits record high on boost from oil stocks, upbeat earnings
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FTSE 100 hits record high on boost from oil stocks, upbeat earnings
Oct 23, 2025 5:46 AM

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

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

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FTSE 100 up 0.6%, FTSE 250 up 0.1%

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Oil stocks rise as crude jumps 5%

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LSEG, Rentokil climb after earnings

Oct 23 (Reuters) - London's FTSE 100 touched an intraday

record high on Thursday, lifted by oil stocks and positive

results from blue-chip firms such as LSEG and Rentokil.

The commodity-heavy FTSE 100 index rose as much as

0.7% to a record high of 9,579.07 points. It was trading up 0.6%

by 1200 GMT.

Oil majors Shell and BP gained about 3%

each, as crude prices jumped more than 5% after

the U.S. imposed sanctions on major Russian suppliers Rosneft

and Lukoil over the Ukraine war.

In earnings, the London Stock Exchange Group ( LDNXF ) jumped

6.7% after the exchange operator said it would sell 20% of its

post-trade services business, announced a surprise 1 billion

pound ($1.34 billion) buyback and reported better-than-expected

third-quarter results.

Rentokil jumped 11.8% after the pest control firm

reported a better-than-expected rise in quarterly organic

revenue.

A largely upbeat earnings season, jump in commodity stocks

and signs of cooling inflation that supported bets of a Bank of

England interest rate cut have supported UK equity markets this

week. The FTSE 100 is on track for its best weekly performance

since mid-April.

The FTSE midcap index of domestically oriented stocks

rose 0.1%, trading at a near four-year high.

An index of UK precious metal miners advanced

4.5%, tracking gold prices, as U.S. sanctions against Russia and

possible new export controls on China stoked geopolitical

concerns, buoying demand for safe-haven assets.

On the downside, Holiday Inn owner InterContinental

Hotels ( IHG ) dipped 1.2%, despite a rise in a key revenue

metric as growth slowed in US markets.

St James's Place shed 4% as the fund manager

forecast weaker flows for the fourth quarter.

Renishaw ( RNSHF ) fell 6% to the bottom of the FTSE 250 index

after the engineering firm posted weak quarterly sales.

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