Finance
London's FTSE 100 closes 2024 on high note
Published by Global Banking & Finance Review®
Posted on January 24, 2025
2 min readLast updated: January 27, 2026
Global Banking & Finance Review®
Company
Published by Global Banking & Finance Review®
Posted on January 24, 2025
2 min readLast updated: January 27, 2026
FTSE 100 ends 2024 on a high, driven by energy stocks and policy shifts. Despite challenges, it marks the best year since 2021.
(Reuters) -London's FTSE 100 climbed to its highest level in over a week on the last trading day of 2024, locking in gains for a fourth straight year and its best since 2021.
The blue-chip FTSE 100 was up 0.6% in its best day in over a month, but recorded its only negative quarter in six. The mid-cap FTSE 250 jumped 1.1%, although it recorded its worst quarter in nine.
Most major FTSE 350 sectors traded higher, with precious metal miners bouncing back from their lowest levels in three months hit in the previous session with a 2.2% rise. Energy stocks were the biggest boosts, with a 1.5% rise. [GOL/] [O/R]
Personal goods were the worst performers of 2024, sliding more than 27%, while aerospace and defence stocks and banks outperformed sectoral peers with an over 30% gain in 2024.
Prime Minister Keir Starmer's win in an election in July and the start of the Bank of England's monetary policy easing cycle in August pushed the indexes to yearly gains, with the FTSE 250 recording its second consecutive rise.
"UK investors navigated a year of twists and turns, with two interest rate cuts offering relief, while a tax-hiking budget put pressure... it was a year of resilience rather than runaway success," said Matt Britzman, senior equity analyst, Hargreaves Lansdown.
Heading into the new year, investors will keep an eye on Donald Trump's return to the White House, the impact of British finance minister Rachel Reeves' October budget and the monetary policies of central banks globally.
The Bank of England's rate cut path will be closely watched, with traders pricing in more than 56 basis points in rate cuts after the central bank delivered two cuts totalling a reduction of 50 bps in 2024.
The FTSE will be closed on Wednesday due to the New Year's Day holiday.
(Reporting by Purvi Agarwal and Sukriti Gupta in Bengaluru; Editing by Anil D'Silva and Angus MacSwan)
The article discusses the FTSE 100's performance in 2024, highlighting its strong finish and factors contributing to its gains.
Energy stocks and the Bank of England's monetary policy easing contributed significantly to the FTSE 100's gains.
The FTSE 250 recorded its worst quarter in nine but still managed a yearly rise, marking its second consecutive yearly increase.
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