FX.co ★ UK Stocks Hit New High

The FTSE 100 index recovered from earlier losses to close slightly above its previous level at 9,760.1 on Thursday, achieving a new record high. Investors assessed a series of corporate earnings reports, developments regarding the US-China trade agreement, and comments from Federal Reserve Chair Jerome Powell, who cautioned that a rate cut in December is not a definite outcome. Notable movers included Standard Chartered, which led the market with a 3.6% increase. The banking group announced that it anticipates full-year income to reach the upper limit of its 5%–7% growth forecast, following an increase in third-quarter earnings driven by its wealth management division. Meanwhile, Shell's share price rose by 0.3% after the company surpassed third-quarter profit expectations, buoyed by strong performance in its gas division, and announced plans to proceed with a $3.5 billion share buyback over the next three months. In contrast, shares of WPP tumbled over 16% after the company announced a strategic review and issued another profit warning, reflecting a 5.9% decline in like-for-like net revenue for the quarter and a potential full-year decrease of up to 6%.