{"id":138499,"title":"FTSE 100 Outperforms Europe as Engineering Stocks Rally","publisher":"Share Talk","author":"sharetalk","published":"2026-07-16T16:23:43+00:00","modified":"2026-07-16T16:26:46+00:00","canonical_url":"https://www.share-talk.com/ftse-100-outperforms-europe-as-engineering-stocks-rally/","markdown_url":"https://www.share-talk.com/ftse-100-outperforms-europe-as-engineering-stocks-rally.md","json_url":"https://www.share-talk.com/ftse-100-outperforms-europe-as-engineering-stocks-rally.json","category":"Blogs","categories":["Blogs","Technology","Technology, Media & Telecoms"],"tags":["Asia","Bangkok","Denmark","Endeavour Mining","Fed","Federal Reserve","Finland","FRANCE","FTSE 100","GERMANY","Glencore","Greenland plan","Hong kong","Japan","London","Manila","mining stocks","Mumbai","Nasdaq Composite","NATO alliance","Netherlands","Nikkei 225","Norway","S&P 500","shanghai","Singapore","Sweden","Sydney","Taiwan","UK","United States","Wall Street","Wellington"],"featured_image":"https://i0.wp.com/www.share-talk.com/wp-content/uploads/2025/10/FTSE-100-16-OCT-scaled.webp?fit=1200%2C675&quality=80&ssl=1","format":"news","language":"en-GB","content":"The FTSE 100 outperformed European peers on Thursday, helped by gains in engineering stocks and another wave of takeover activity across the London market.\n\nThe blue-chip index closed up 56.32 points, or 0.5%, at 10,572.24. The FTSE 250 rose 253.44 points, or 1.1%, to 23,715.83, while the AIM All-Share edged 0.1% higher to 766.18.\n\nSterling faded into the close after earlier touching a one-year high against the dollar, amid expectations that Home Secretary Shabana Mahmood could become chancellor under the incoming government led by Andy Burnham.\n\nThe pound traded at US$1.3483 late Thursday, little changed from US$1.3486 on Wednesday, having earlier reached US$1.3558. Against the euro, sterling eased to EUR1.1784.\n\nInvestors also digested figures showing the UK economy returned to modest growth in May. GDP rose 0.1% month-on-month, reversing April’s 0.1% contraction and matching expectations.\n\nDeutsche Bank economist Sanjay Raja warned that higher energy prices linked to the Iran conflict could still weigh on household spending and business investment later in the year.\n\nIn Europe, the CAC 40 in Paris slipped 0.1%, while Frankfurt’s DAX fell 0.3%.\n\nOn Wall Street, the Dow Jones was up 0.3% in early trade, while the S&P 500 slipped 0.1% and the Nasdaq Composite fell 0.7%.\n\nTechnology stocks remained under pressure despite strong results from TSMC, which reported record second-quarter profit driven by demand for AI hardware. The shares fell 2.7% in New York.\n\nBrent crude rose to US$84.75 a barrel from US$83.71 on Wednesday, while gold fell to US$4,014.58 an ounce from US$4,048.39.\n\nThe weaker gold price weighed on miners, with Fresnillo down 2.4% and Endeavour Mining falling 2.6%.\n\nDiploma led the FTSE 100 risers, climbing 6.3% after raising full-year guidance for the third time in five months following a very strong third quarter.\n\nTakeover activity remained a key theme. Rotork soared 67% after agreeing a £4.14 billion cash takeover by Swiss engineering group ABB at 506p per share.\n\nThe deal boosted interest in other UK engineers, with Weir Group up 4.0% and Spirax Group rising 4.2%.\n\nGooch & Housego jumped 39% after accepting a £345.6 million offer from Arlington Capital Partners.\n\nAmong FTSE 250 movers, Dunelm rose 5.3% and Funding Circle gained 5.8% after trading updates, while Ocado fell 10% and Trustpilot dropped 11%.\n\nFriday’s economic calendar includes eurozone inflation, US industrial production and the Michigan consumer sentiment index."}