FTSE 100 rises as Shell leads energy stocks higher
+2 new sources since this summary was written
The FTSE 100 advanced on Thursday, with Shell leading the move after reporting strong third-quarter adjusted earnings and raising its quarterly buyback to $5 billion. BAE Systems and WPP also gained, while investors assessed the UK budget and the Federal Reserve's decision to leave rates unchanged. Haleon fell sharply after cutting its organic revenue growth forecast.
Why it matters
The market reaction benefits Shell through a larger near-term capital return and reflects investor support for energy and defence stocks. Haleon's reduced outlook creates a negative read-through for its shares, while the differing intraday reports leave the exact scale of the broader index move unclear.
Key facts
- 1The FTSE 100 was up 0.56% at 04:28 ET (08:28 GMT). investing.com
- 2Shell reported third-quarter adjusted earnings of $10.81 billion. investing.com
- 3Shell increased its quarterly buyback to $5 billion. investing.com
- 4BAE Systems rose 2.27% after the UK budget reaffirmed the government's commitment to 3% NATO spending by 2030. investing.com
- 5WPP's third-quarter like-for-like revenue less pass-through costs fell 2.1%, and the company reiterated its full-year guidance. investing.com
- 6Haleon cut its organic revenue growth forecast. aol.com
Open questions
- The reported Haleon decline differs across the materials, with one reporting 11% and another 15.6%; the materials appear to reflect different intraday readings and do not establish one comparable figure.
Summary written by AlphAI AI Desk from 3 of 3 sources. Not investment advice. Figures are as stated by the linked sources.