The FTSE 100 advanced on Thursday as investors focused on signs of progress toward a longer-term peace agreement in the Middle East. Energy stocks led the gains, with BP up around 3.6% and Shell rising 1.2% as Brent crude climbed back above $97 per barrel. Mining groups also traded higher, with Rio Tinto gaining 1.8% and Anglo American up 0.6% after stronger-than-expected economic data from China.
In the retail sector, Tesco climbed nearly 4% after reporting robust sales and profit growth, unveiling a £500 million share buyback and widening its full-year guidance despite ongoing geopolitical uncertainty. Entain rose more than 6% after reaffirming its outlook.
On the downside, EasyJet fell more than 5% following a cautious trading update linked to the Middle East conflict, while Rentokil slipped about 1.3% despite delivering broadly steady results. Defence stocks were also weaker, with Rolls-Royce down more than 2.5% and BAE Systems lower by 1.2%.
In macroeconomic news, official data showed that UK GDP grew by 0.5% in February, significantly above consensus expectations of 0.1%.
