FTSE 100 rises on lower oil and tech stocks rally

Summarised from 2 outlets · Updated 2 Nov, 17:50 · Archive

London stocks rose 0.3% on Monday as oil prices fell and technology stocks recovered from recent losses.

London stocks prospered on Monday as oil prices fell amid hopes for progress on peace talks between the US and Iran, and technology stocks rallied after recent falls.

The FTSE 100 Index closed up 31.55 points, 0.3%, at 10,761.33. The FTSE 250 ended 342.49 points higher, 1.4%, at 24,795.85, and the AIM all-share added 4.84 points, 0.6%, at 757.92. In Europe, the CAC 40 in Paris ended up 1.0%, while Frankfurt's DAX 40 advanced 0.6%. US stocks were also higher, with the Dow Jones Industrial Average up 1.0%, the S&P 500 up 0.6% and the Nasdaq Composite up 0.7%.

The tech rally came after heavy falls last week as investors fretted about whether massive investment in AI infrastructure would deliver acceptable returns. Tom Stevenson, investment director at Fidelity International, said: 'Investors are no longer in doubt that growth is coming, but they are starting to question whether they have paid too much for it.' He noted that the AI investment boom was bumping up against rising costs of capital as US hyperscalers' cashflows drained. Anthropic, an artificial intelligence company, reported a more than 1,100% surge in quarterly revenue as it prepares to go public on Wall Street later this month.

How it is being reported

• Stocks boosted by lower oil price and tech rallyThe FTSE 100 Index closed up 0.3% at 10,761.33.Evening Standard · 2 Nov, 17:24
• Stocks boosted by lower oil price and tech rallyThe FTSE 100 Index closed up 0.3% at 10,761.33.Independent Business · 2 Nov, 17:24

In this story: FTSE 100 · London · Fidelity International · Tom Stevenson · Anthropic · Wall Street

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