The FTSE 100 climbed to a four-week high on Thursday, outperforming major European indices as stronger-than-expected UK growth data lifted sentiment and the index’s relatively low exposure to under-pressure technology stocks provided an additional boost.
UK GDP grew by 0.1% in August, following a 0.4% rise in July and confounding expectations of a 0.1% contraction. Output increased by 0.7% in the three months to August, marking the fourth consecutive month in which the economy surpassed forecasts despite elevated borrowing costs and higher energy prices.
At the stock level, consumer and pharmaceutical names were among the main gainers. Unilever rose 1.5%, British American Tobacco advanced 2.8%, AstraZeneca added 1% and GSK was up 0.8%.
Mining shares, however, dragged on the index. Antofagasta slumped more than 6% after its quarterly copper production missed expectations and the company cut its 2027 output forecast. Anglo American lost 5%, Rio Tinto fell more than 4% and Glencore declined over 3%.
