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UK stock market gains amid US shutdown optimism and Diageo CEO change
UK markets rose around 1% on 10 November, driven by US shutdown hopes and Diageo’s 7.
London’s FTSE 100 climbed 1 % on 10 November, driven by optimism that the US government shutdown could be resolved and by a surge in shares of Diageo, which jumped 7.2 % after appointing former Tesco executive Dave Lewis as CEO. The FTSE 250 also rose 1.1 %. Market participants pointed to renewed confidence, but noted UK markets still face macro headwinds including inflation and rate-cut uncertainty.
Commodity and mining stocks added support amid rising gold and copper prices.