London’s main stock indices gained ground on July 28, supported by strong performances in consumer-focused sectors despite a wider global semiconductor sell-off. The FTSE 100 climbed 89.27 points, or 0.83 percent, closing at 10,871.02, marking its second-highest finish on record. The FTSE 250 advanced 106.68 points, or 0.45 percent, ending the day at 24,004.78.
Investor interest was driven in part by companies with significant exposure to consumer markets. Chemicals manufacturer Croda International led gains on the blue-chip index, rising 235 pence, or 8 percent, to £31.60 after reporting a sharp increase in interim profits. The company credited strong performance in its consumer-facing division, specializing in ingredients for cosmetics and personal care products.
Unilever also posted notable gains, climbing 371 pence, or 8 percent, to finish at £49.98. The consumer goods giant surpassed sales and earnings forecasts, buoyed by solid growth in emerging markets that offset weaker results in Europe.
Shares of Sage Group, the business software provider, rebounded as well, closing up 49 pence, or 5.5 percent, at 939.75 pence. The stock had faced pressure earlier in the year amid concerns over artificial intelligence-related competition but showed signs of recovery ahead of an expected trading update.
Diageo, the drinks conglomerate behind brands such as Guinness, Gordon’s, and Johnnie Walker, recorded a 5.1 percent increase, with shares rising 81 pence to £16.72. The company has faced challenges since a profit warning in 2023 linked to falling sales in Latin America but appears to be regaining investor confidence.
On the downside, Barclays was the largest decliner on the FTSE 100, falling 25.5 pence, or 4.8 percent, to 505 pence. Despite reporting a 31 percent increase in quarterly profits to £3.3 billion, the bank’s shares came under pressure due to relative underperformance compared to U.S. peers and rising operating expenses.
Other laggards included Centrica, which dropped 2.9 percent, or 4.5 pence, to 155.25 pence, reflecting a decline in oil and gas prices amid easing geopolitical tensions.
On the FTSE 250, Raspberry Pi, the computing hardware company, experienced a 5.8 percent decline, falling 39 pence to 636 pence. The broader technology sector continued to face headwinds, weighing on the company’s shares amid ongoing market pressures.