FTSE 100 Up Marginally; 3i Group, Melrose Move Up 3%

RTTNews | 4h 50min ago
FTSE 100 Up Marginally; 3i Group, Melrose Move Up 3%

(RTTNews) - The U.K. stock market gained marginal ground in positive territory Friday morning as investors picked up stocks, expecting an interest rate cut by the Federal Reserve next week.

The benchmark FTSE 100 up 9.65 points or 0.1% at 9,720.52 about a quarter before noon.

3i Group gained more than 3%. Melrose Industries also moved up 3%. Burberry Group, RightMove, WPP, JD Sports Fashion and Anglo American Plc gained 2 to 2.75%.

Babcock International, Rolls-Royce Holdings, Barratt Redrow, ICG, Halma, Persimmon, Land Securities, IMI, Entain, Antofagasta, AstraZeneca and St. James's Place also posted stronger gains.

BP drifted down 2.3% and Airtel Africa eased by about 2.2%. Shell, Smiths Group, Vodafone Group, Whitbread, Imperial Brands and Severn Trent lost 0.7 to 1.4%.

In economic news, UK house prices stagnated in November ahead of the Autumn budget announcement, data from the mortgage lender Halifax revealed.

House prices registered a nil growth in November after a 0.5% rise in October. Prices were forecast to climb 0.2%. Nonetheless, average property prices hit another new record high of GBP 299,892.

Annual growth in house prices eased to 0.7% in November, the weakest since March 2024, from 1.9% in October.

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