Overview
- The FTSE 100 climbed to intraday highs near 10,950 on Thursday, July 30, driven by strong gains in mining, energy and industrial stocks.
- The Bank of England left its bank rate unchanged at 3.75% in a 6–3 Monetary Policy Committee split that market participants interpreted as an ‘active hold’ on policy.
- Better-than-expected results from large UK groups including Rolls‑Royce, Mondi and Unilever supplied the immediate buying impetus for the rally.
- Rising commodity prices — Brent crude around the high $80s per barrel and firmer copper — supported energy and mining names and helped London outperform many tech-heavy overseas indices.
- Ongoing tensions linked to the Iran conflict and continued company-specific volatility keep risk elevated even as futures and overnight moves pointed to a higher open for July 31.