The FTSE 100 opened higher due to positive global cues, a firm close on Wall Street, and continued strength in precious metals supported sentiment. The index rose around 17 points in early trade to 9,883, reflecting steady risk appetite.
Metlen Energy & Metals advanced 1.70% to £41.90, followed by 3I Group, which gained 1.14% to £3,277.
Admiral Group traded 0.75% higher to £3,214, while Barratt Redrow added 0.62% to £372.90. Pershing Square Holdings rose 0.58% to £4,828, and London Stock Exchange Group edged up 0.56% to £8,922, contributing to the index’s overall positive tone.
On the downside, DCC fell 2.04% to £4,612. Diageo declined 1.11% to £1,599, while Diploma slipped 0.37% to £5,375.
Games Workshop traded 0.31% lower to £19,230, Coca-Cola Europacific Partners eased 0.29% to £6,800, and InterContinental Hotels Group dipped 0.19% to £10,550. The losses remained largely stock-specific, with no signs of broad-based selling pressure.
Pets at Home shares gained around 2% after the appointment of Waitrose managing director James Bailey as its new chief executive.
Bailey will take charge from March 30, replacing Lyssa McGowan, who departed following a profit warning earlier this year.
Investors reacted positively to Bailey’s retail and digital transformation experience, while chair Ian Burke will continue as interim CEO until the handover.
HSBC senior independent director Ann Godbehere to step down from the board next year. Godbehere, who took charge in September 2023, recently oversaw the appointment of board chair Brendan Nelson.
She will retire from the board at the 2026 AGM in May. Nelson said: "I would like to thank Ann for her considerable contribution to the HSBC board and fully respect her decision to step down for personal and lifestyle reasons, now that the chair search has successfully completed".
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Wall Street markets finished higher last night, led by a 0.6% rise for the S&P 500 index. The Dow Jones Industrial Average and the Nasdaq Composite added 0.5%.
The gold price has moved deeper into record territory after adding 0.8% in Asia trading to stand at $4,480 an ounce, while silver hovered around $69.6 per ounce, marking its strongest annual performance since 1979.
The rally continued despite higher global bond yields, highlighting sustained safe-haven demand.
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