Persimmon jumped around 4% after better-than-expected earnings, while defense and pharma stocks helped offset weakness in miners as investors tracked Iran-Oman talks on a proposed shipping route.
The FTSE 100 rose on Thursday for a third consecutive session and stayed near record levels as investors responded to signs of progress toward reopening the Strait of Hormuz, a key global shipping lane. Sentiment improved after Iran said it had reached an agreement with Oman on a proposed route through the waterway, with a joint statement from both countries still under review. Persimmon climbed around 4% after the housebuilder reported better-than-expected earnings and said it expects to complete 12,500 homes this year, the top end of its previous guidance. Barratt Redrow advanced more than 1%, BAE Systems gained over 2%, and AstraZeneca and GSK each added around 1%, helping support the index. Precious metal miners and other mining stocks fell, while oil majors were little changed as crude prices stabilized after recent losses.