The FTSE 100 finished Thursday on a strong footing, climbing 0.7% to 10,529.89 as investors responded positively to easing inflation expectations following this week’s decline in oil prices, while the Dow Jones Industrial Average reached a fresh record high in New York.
The FTSE 250 also ended higher, adding 0.3% to close at 23,161.41, extending gains despite a mixed backdrop from the United States where technology stocks once again struggled to maintain momentum.
In Wall Street, traders highlighted the growing divide between technology shares and the wider market. The Nasdaq Composite slipped 0.6% after trading higher earlier in the day, while the S&P 500 hovered around flat territory. By contrast, the Dow Jones gained 0.2% and pushed to a new all-time high.
Investors appeared unimpressed by another set of standout results from memory chip maker Micron Technology, whose latest quarterly earnings and forward guidance exceeded expectations thanks to continuing demand linked to artificial intelligence.
Micron shares have risen almost tenfold over the past year as shortages in the memory market drove prices sharply higher, with the company now expecting tight supply conditions to continue beyond 2027.
European markets largely ignored the volatility across the Atlantic. Paris’ CAC 40 gained 0.6% while Frankfurt’s DAX advanced 1.0%.
In London, 3i Group was the best performer, soaring 11% after delivering an encouraging trading update from Action, the Dutch discount retailer that accounts for around three quarters of the investment group’s net asset value.
Chief executive Simon Borrows said like-for-like sales growth at Action had reached 3.3% so far in 2026. This represents an improvement from the 2.4% growth rate reported earlier in the year, suggesting sales accelerated over recent weeks.
Barratt Redrow rose 4.6% after long-term shareholder Phoenix Asset Management Partners publicly called for a significant increase in share buybacks. Speaking at the London Value Investor Conference, Phoenix argued the housebuilder remains materially undervalued and that a larger repurchase programme could unlock substantial value for shareholders.
Among mid-caps, easyJet climbed 6.6% after indicating it would provide potential bidder Castlelake with limited commercial information to help formulate an improved takeover proposal.
The airline confirmed it had rejected a fourth approach from the US asset manager worth 650p per share, valuing the company at £4.93 billion. Earlier in the week, easyJet had also turned down a 625p-per-share proposal.
Moonpig gained 2.5% after reporting stronger-than-expected annual results, increasing its dividend and unveiling a fresh share buyback programme.
Analysts responded positively, with Berenberg describing the performance as impressive and Panmure Liberum praising the retailer’s latest figures.
ITV also attracted buyers, rising 3.1% following a Reuters report that Comcast-owned Sky had agreed terms to acquire ITV’s broadcasting and streaming operations, while ITV would take ownership of Love Productions as part of the transaction.