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FTSE 100 notches record close on US-EU trade deal optimism, earnings boost

Thu, 24th Jul 2025 17:05

FTSE 100 up 0.9%, FTSE 250 up 0.6%

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Reckitt soars after raising annual revenue growth forecast

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ITV jumps after forecast-beating HY results

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BT Group surges after appointing new CFO

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Vodafone rises on Q1 growth improvement

July 24 (Reuters) -

Britain's FTSE 100 rose on Thursday to a record close, boosted by upbeat corporate results and optimism over a potential EU-U.S. trade agreement.

The benchmark FTSE 100 closed up 0.9% at 9,138.37 points. The domestically oriented midcap FTSE 250 gained 0.6%.

The personal care and grocery stores index led sectoral gains, up 2.6%, boosted by Reckitt, up 9.9%, after the consumer goods company raised its annual revenue forecast.

Healthcare stocks rose 1.9% with AstraZeneca up 2.1% after the drugmaker's rare immune disorder drug succeeded in an advanced trial.

GSK added 1.4% after the U.S. Food and Drug Administration on Wednesday extended its review of the drugmaker's blood cancer drug.

Media stocks advanced 2.3%, led by ITV , which rose 13.3% after the broadcaster's half-year results beat forecasts.

Conversely, precious metal miners fell 1.4%, tracking a drop in gold prices. Endeavour Mining fell 1.3%, and Fresnillo was down 2.1%.

In company news, BT Group advanced 10.4%, topping the FTSE 100 index, after the telecom firm named Patricia Cobian as its first female chief financial officer.

Howden Joinery soared 8.9% after reporting a rise in first-half profit.

Vodafone gained 3.4% after reporting a 5.5% increase in organic service revenue in the first quarter.

Airtel Africa soared 7.3% after posting higher quarterly results.

Anglo American's copper and diamond production fell in the first half of the year. Shares of the miner edged 0.9% down.

BP will exit its planned green hydrogen production facility in Australia as it pivots back to oil and gas, a spokesperson said. Shares of the energy major were down 1.7%.

Meanwhile, an EU spokesperson signalled that a U.S.-EU deal was within reach, which would result in broad 15% import tariffs on the 27-member bloc.

Additionally, surveys showed British companies are struggling to grow and the job market continues to weaken, but inflation pressures are still lurking in the economy.

A Reuters poll

showed

the Bank of England is expected to cut interest rates in August and November with steady economic growth anticipated.

Britain and India also signed a free trade agreement. (Reporting by Sukriti Gupta; Editing by Sahal Muhammed and Ed Osmond)

Reckitt Astrazeneca Glaxosmithkline ITV Endeavour Mining Fresnillo BT Howden Joinery Vodafone Airtel Africa Anglo American BP National Grid AJ Bell Aviva

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