FTSE 100 rises 31 points as tech rally lifts London stocks
Anthropic reports a 1,100% jump in quarterly revenue and the UK manufacturing PMI climbs to 52.8, while lower oil prices pull energy shares down
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London’s main stock index ended the trading day higher on Monday. The Standard reported that the FTSE 100 Index added 31.55 points, or 0.3%, to finish at 10,761.33. The gain followed a fall in oil prices and a rally in technology shares.
Tech earnings lift market sentiment
FTSE 100 drops 0.8% after HSBC shares fall 5.4% on earnings miss
The market slipped on Tuesday as HSBC reported weaker net interest income, while US consumer confidence rose and investors brace for the UK budget and Fed rate decision.
Anthropic, a leading artificial‑intelligence firm, disclosed a revenue increase of more than 1,100% for the third quarter, reaching $17 billion. The company said revenue grew from $1.4 billion a year earlier. The announcement came as the firm prepares for a Wall Street listing later this month.
“Investors are no longer in doubt that growth is coming, but they are starting to question whether they have paid too much for it,”
Tom Stevenson, investment director at Fidelity International
Tom Stevenson of Fidelity International told the Standard that the AI investment boom is meeting a higher cost of capital. He noted that yields at or above 5% make financing more difficult for the sector.
FTSE 100 edges up, FTSE 250 falls as tech stocks tumble
NatWest and AstraZeneca report profit increases, while Mobico shares climb on takeover offer.
UK manufacturing shows resilience
Rob Dobson, director at S&P Global Market Intelligence, commented that the UK manufacturing PMI rose to a five‑month high of 52.8 points in October, up from 51.9 in September. The figure stayed above the 50.0 threshold that signals expansion.
The rise in the PMI came ahead of the Bank of England’s interest‑rate decision scheduled for 5 November. Analysts expect a 25‑basis‑point increase to 4.00%.
Energy stocks fall as oil retreats
Brent crude slipped to $105.09 a barrel on Monday, down from $117.61 on Friday. The Standard noted that the price drop pulled down shares of Ithaca Energy, BP and Shell, which fell 5.9%, 4.4% and 2.9% respectively.
Questions this report answers
+What level did the FTSE 100 close at on Monday?
The Standard reported that the FTSE 100 Index closed at 10,761.33 points, up 31.55 points or 0.3% from the previous close.
+How much revenue did Anthropic generate in the third quarter?
Anthropic said its quarterly revenue reached $17 billion in the third quarter, representing a rise of more than 1,100% from $1.4 billion a year earlier.
+What was the UK manufacturing PMI in October?
The seasonally adjusted UK manufacturing PMI rose to 52.8 points in October, according to S&P Global Market Intelligence, up from 51.9 points in September.
+How did the fall in oil prices affect energy shares?
Brent crude fell to $105.09 a barrel, and the Standard noted that shares of Ithaca Energy, BP and Shell dropped 5.9%, 4.4% and 2.9% respectively as a result.
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