London’s stock market opened higher on Thursday, with a jump in gold prices boosting miners while investors digested the Federal Reserve’s decision to hold interest rates steady and a heavy flow of company results.
The FTSE 100 index rose 0.6% at the open, with the FTSE 250 up 0.3%.
Gold climbed above $5,500 an ounce, a fresh record, after the Fed opted to leave rates unchanged. The surge supported mining stocks despite some producers reporting lower output.
Glencore (LON:GLEN) shares gained 3.6% despite reporting mostly lower production in 2025. Copper output fell 11% to 851.6 kilotonnes, and gold production declined 18% to 604,000 ounces, while zinc and silver output rose 7% and 6% respectively. The company said its marketing arm remains on track to deliver adjusted Ebit around the midpoint of its $2.3 billion to $3.5 billion guidance range.
Antofagasta (LON:ANTO) rose 6.2% after reporting a 12% drop in fourth-quarter copper production, though output improved from the previous quarter.
Other top FTSE 100 gainers included Endeavour Mining (LON:EDV) up 4.9%, Anglo American (LON:AAL) up 4.1%, Fresnillo (LON:FRES) up 2.6%, and Rio Tinto (LON:RIO) up 2.5%.
3i Group led the index with a 13% rise after a strong trading update, reporting Action operating Ebitda up 14% to €2.37 billion and sales up 16% to €16.00 billion. Net asset value per share rose to 3,017 pence from 2,857 pence.
On the FTSE 250, Wizz Air rose 7.7% as third-quarter net losses narrowed, passenger numbers increased 13% to 17.5 million, and revenue climbed 10% to €1.30 billion. Summer bookings are tracking ahead of last year.
Smaller caps also saw gains, with Fevertree Drinks up 5.3% after confirming full-year results above expectations and announcing a further £30 million share buyback tranche in February.
In the US, Wall Street ended mixed, with the Dow slightly higher, the S&P 500 marginally lower, and the Nasdaq up 0.2%.
Big Tech earnings drew attention after the close, with Tesla shares up 2.8% in after-hours trading, Meta Platforms up 7.2%, and Microsoft down 5.4% after weaker revenue in its More Personal Computing division. Apple is set to report full-year results today.