Finance
UK's FTSE 100 rebounds as financial, commodity stocks gain
Published by Global Banking and Finance Review
Posted on January 29, 2026
2 min readLast updated: January 29, 2026
Quick Summary
FTSE 100 rose 0.5% as financial and commodity stocks gained. 3i Group led with a 10.5% surge. Mining stocks hit record highs amid strong gold prices.
FTSE 100 Gains Ground as Financial and Commodity Stocks Rally
Market Overview and Key Performers
Dec 29 (Reuters) - London's blue-chip index gained ground on Thursday, led by financial and commodity stocks, as investors parsed a mixed bag of corporate earnings.
The FTSE 100 rose 0.5% by 1129 GMT, after finishing 0.5% lower in the previous session.
Meanwhile, the domestically focused FTSE 250 edged 0.1% lower.
Financial Sector Performance
Investment banks and brokerages were among the session's top performers, with the sector index rising 4%. 3i Group surged 10.5% to lead the FTSE 100, on track for its biggest one-day gain in more than six months after the investment company delivered a strong third-quarter update.
Banking shares rebounded from Wednesday's losses, and were up 0.9%. Lloyds Banking Group rose 1.2% after the bank reported a better-than-expected 12% rise in annual profit.
On the trade front, Britain's Prime Minister Keir Starmer and China's President Xi Jinping hailed a reset of ties, pledging to build an economic partnership with deals including a major investment by AstraZeneca. The pharmaceutical giant's shares were marginally down on the day.
Commodity Stocks Surge
Back in the markets, mining stocks advanced, with the precious metal miners index rising 3% to a record high, tracking strength in gold prices. Industrial metal miners index climbed 3.6% to its highest level in one year. [GOL/]
Miner Glencore was up 3.8% despite reporting an 11% decline in copper production for 2025, as higher grades and improved recoveries at several mines lifted output in the second half.
Impact of Global Events
Energy stocks also advanced 1.8%, supported by higher oil prices amid rising concerns that a U.S. strike on Iran could disrupt supply. [O/R]
On Wednesday, the U.S. Federal Reserve left interest rates unchanged as widely expected, with Chair Jerome Powell citing a "clearly improving" outlook.
Global investors have remained focused on a packed earnings calendar this week, scrutinizing results from U.S. Big Tech firms for insights into the trajectory of AI investment.
Among other UK stocks, budget airline easyJet dipped 1% after it reported a wider first-quarter loss, hit by expansion costs and soft winter pricing.
(Reporting by Tharuniyaa Lakshmi in Bengaluru; Editing by Sahal Muhammed)
Key Takeaways
- •FTSE 100 rose 0.5% led by financial and commodity stocks.
- •3i Group surged 10.5% after a strong update.
- •Mining stocks hit record highs, driven by gold prices.
- •Energy stocks advanced amid rising oil prices.
- •US Fed left interest rates unchanged, improving outlook.
Frequently Asked Questions about UK's FTSE 100 rebounds as financial, commodity stocks gain
1What is the FTSE 100?
The FTSE 100 is a stock market index that represents the 100 largest companies listed on the London Stock Exchange, based on market capitalization.
2What are commodity stocks?
Commodity stocks are shares of companies that produce or deal in raw materials such as metals, oil, and agricultural products, often influenced by commodity prices.
3What is a corporate earnings report?
A corporate earnings report is a quarterly or annual financial statement that provides information about a company's profitability, revenue, and expenses.
