Finance
GSK, gold miners shares push Britain's FTSE 100 higher
Published by Global Banking and Finance Review
Posted on February 5, 2025
2 min readLast updated: January 26, 2026
Global Banking and Finance Review
Company
Published by Global Banking and Finance Review
Posted on February 5, 2025
2 min readLast updated: January 26, 2026
FTSE 100 rose 0.6% led by GSK and gold miners, as investors focus on the Bank of England's rate decision. GSK announced a share buyback, boosting its stock.
(Reuters) -UK's FTSE 100 firmed on Wednesday after two straight days of losses, buoyed by gains in shares of heavyweight GSK and gold miners, while investors turned their focus to the Bank of England's rate decision this week.
The blue-chip FTSE 100 ended 0.6% higher, while the domestically focussed mid-cap FTSE 250 firmed 0.5%.
GSK jumped 7.6% after the launched a 2 billion pounds ($2.5 billion) share buyback and lifted its long-term sales target to nearly $50 billion.
Meanwhile, precious metal miners surged 3.6%, as gold prices hit another record high. Fresnillo climbed 5.8%, boosted further by J.P.Morgan naming it its "top pick." [GOL/]
All eyes will be on the Bank of England's monetary policy decision on Thursday, with markets having fully priced in a 25-basis-point cut.
"We expect the BOE-e27aa96a-1849-4bf0-93aa-486e3a9568bc>BoE to cut rates by 25bp and easing guidance will be strengthened relative to market expectations. At least one 25bp cut per quarter should be in play as growth risks remain heavily to the downside," said Geoff Yu, senior market strategist at BNY.
Ferrexpo slumped 8% to the bottom of the mid-cap index, extending losses to the second session after the miner on Tuesday said a civil claim worth 157 billion hryvnias ($3.77 billion) was filed against its Ukrainian unit.
(Reporting by Pranav Kashyap and Medha Singh in Bangalore; Editing by David Gregorio)
The FTSE 100 rose 0.6% due to gains in shares of GSK and gold miners.
GSK's stock jumped 7.6% after announcing a £2 billion share buyback and raising its long-term sales target.
Markets are anticipating a 25-basis-point cut in rates by the Bank of England.
Gold prices reached a record high, leading precious metal miners to surge by 3.6%.
Ferrexpo's stock slumped 8% after a civil claim worth 157 billion hryvnias was filed against the company.
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