FTSE 100 up 1.1, FTSE 250 up 0.1

Jan 2 Reuters The UK39;s FTSE 100 advanced higher on Thursday, the first trading session of the year, boosted by gains in commoditylinked stocks.

The bluechip FTSE 100 rose 1.1 to an over twoweek high, logging its best day since Nov. 22. The midcap FTSE 250 was near flat after touching a twoweek high earlier in the session.

Precious metals miners rose 4.6, leading gains among sectors, as gold hit a twoweek high on safehaven demand and lower U.S. Treasury yields, with investor focus on the U.S. interest rate outlook and policies under the new incoming Donald Trump administration.

Energy stocks gained 2.2, and were the biggest boosts. Oil heavyweights such as BP and Shell rose 2.6 and 2.1 respectively, as crude prices , were buoyed by expectations of more stimulus for China39;s slowing economy.

On the flip side, homebuilders led sectoral losses with a 0.9 fall.

Datawise, a survey showed British factory activity shrank at the fastest pace in 11 months in December, as manufacturers cut staffing levels in response to higher taxes and weak foreign demand.

The FTSE 100 recorded an over 5 rise in 2024, its fourth consecutive year of gains, as the UK economy held up better than expected and the Bank of England kicked off its monetary policy easing cycle.

The BoE has, however, said it will move gradually with further cuts to borrowing costs as it monitors whether the tax hikes announced in Finance Minister Rachel Reeves39; October budget…