London’s blue-chip index advanced on Thursday, with strong updates from select companies offsetting broader economic uncertainty. The FTSE 100 climbed 0.5% or 45.99 points to 9271.38, supported by gains in heavyweight stocks such as BP and Diageo. Meanwhile, AIM- and FTSE 250-listed firms delivered some of the day’s standout performances.
Premium mixer brand Fevertree Drinks reported resilient first-half trading, particularly in the United States. Revenues in its US division rose 6%, even as UK sales fell by the same margin amid continued challenges in bars and restaurants.
The positive update follows the company’s new long-term partnership with Molson Coors, which began distributing Fevertree products across its US network in June.
Adjusted half-year earnings came in at £18.4 million, up 1% and ahead of market forecasts of £16.3 million. Shares surged 9% to £848, reflecting investor confidence in the company’s expansion strategy.
Online ticketing platform Trainline delivered another strong update, reporting net ticket sales up 8% to £3.2 billion for the six months ending August. Group revenues climbed 2% to £235 million, with growth in both UK and European operations.
In France, competition on high-speed routes drove a 34% jump in second-quarter sales, highlighting the benefits of rail liberalisation across Europe. Management now expects full-year earnings at the top end of its 6-9% growth forecast, citing operational leverage and cost efficiency.
To reward shareholders, Trainline announced a £150 million share buyback, taking total planned repurchases to £350 million over three years. The stock rallied 11% to £287.8, recovering from recent weakness.
Gaming software group Playtech was another mid-cap mover, with shares rising 9.1%. Despite a fall in revenue and earnings, the company reassured investors that it remains on track to beat full-year profit expectations.
Management is pointing at renewed focus on its core B2B business. According to them, the second half of trading has already started strongly.
While individual stock updates boosted sentiment, traders remained focused on the global interest rate environment. The European Central Bank is expected to hold rates steady at 2%, with the latest inflation and growth forecast updates expected later today.
Across the Atlantic, US consumer inflation data is forecast to show a slight rise in CPI from 2.7% to 2.9%, though markets still anticipate a Fed rate cut next week.
Elsewhere, the Dow Jones slipped, but the S&P 500 and Nasdaq Composite hit fresh record highs, boosted by tech optimism following Oracle’s AI-driven outlook.
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Corporate earnings are already in the spotlight. Meanwhile, FTSE 100 has benefited from upbeat results in select sectors. While macroeconomic uncertainties are there, specifically for inflation and interest rates, investors are eagerly looking at the signs of resilience at companies such as Fevertree, Trainline, and Playtech.