UK's FTSE 100 clinches new record close; focus on BoE, earnings (updated)

Ceres Power Holdings

05/11/2025 18:29

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Updates with closing prices

FTSE 100 rises 0.6%, FTSE 250 up 0.5%

Barratt Redrow inches up after maintaining FY targets

Metro Bank rises after company reaffirms annual outlook

Bank of England rate decision on Thursday

Nov 5 (Reuters) - UK's FTSE 100 .FTSE scaled a fresh record close on Wednesday after starting on a quiet note, while investors await the Bank of England's interest rate decision and more corporate earnings later this week.

 The blue-chip index .FTSE finished 0.6% higher at 9,777.08 points, surpassing its previous record close last Thursday.

 The midcap FTSE 250 .FTMC rebounded 0.5%, breaking its seven-day losing streak.

Heavyweight oil and gas stocks .FTNMX601010 rose 1.2%, tracking firm crude oil prices, and offset losses by pharma companies, including a drop of 0.6% for drugmaker AstraZeneca AZN.L.

 The personal goods sector .FTNMX402040 emerged as the day's standout performer, rising 2%, with luxury fashion house Burberry Group BRBY.L claiming the top spot among FTSE 100 gainers, rising 3.1%.

On the data front, output and new orders in Britain's services industry picked up last month, according to a survey showing that expectations for activity in the next 12 months were the highest since October 2024.

 All eyes are now on the Bank of England, which on Thursday is
widely expected
     to hold rates steady, though recent softer inflation and wage data could strengthen the case for a rate cut.

 Among individual stocks, Metro Bank Holdings MTRO.L jumped 8.3%, topping the FTSE 250 gainers after affirming its annual outlook.

 Ceres Power Holdings' CWR.L shares soared 18.9% after the clean energy technology developer announced a strategic licensing agreement with its largest Chinese investor aimed at powering data centers.

 Retailer Marks & Spencer MKS.L said it will have fully recovered from April's cyber hack by March, forecasting second-half profit at least in line with last year's. Its shares ended nearly flat.

 Barratt Redrow BTRW.L rose 0.9% after Britain's largest homebuilder
maintained
 its annual completions target.

Later this week, earnings from AstraZeneca, British Airways parent IAG ICAG.L and spirits maker Diageo DGE.L will also be on investors' radar.

(Reporting by Utkarsh Tushar Hathi, Shashwat Chauhan and Ragini Mathur in Bengaluru; Editing by Sahal Muhammed and Richard Chang)

((utkarshtushar.hathi@thomsonreuters.com))