The FTSE 100 rose on Thursday, extending its winning streak to a third consecutive session and trading close to record highs, as investors reacted positively to signs of progress toward reopening the Strait of Hormuz to commercial shipping. Market sentiment improved after Iran announced it had reached an agreement with Oman on a proposed shipping corridor through the key waterway, with a joint statement from both countries currently under review.
In corporate news, Persimmon climbed about 4% after the housebuilder posted stronger-than-expected results and projected it would complete 12,500 homes this year, at the upper end of its earlier guidance. Barratt Redrow also advanced by more than 1%.
Defence contractor BAE Systems gained over 2%, while pharmaceutical heavyweights AstraZeneca and GSK each rose around 1%, lending additional support to the blue-chip index. By contrast, precious metal miners and other mining stocks came under pressure, and oil majors were little changed as crude prices steadied following recent declines.
