The Newshound

FTSE 100 surges past 10,840 as bond markets calm and tech sell-off drives investors into UK stocks

The FTSE 100 closed at 10,840.35 on Thursday, with chip stocks Nvidia, AMD and Broadcom all falling on Wall Street as investors fled volatile technology shares for UK equities.
The FTSE 100 closed at 10,840.35 on Thursday, with chip stocks Nvidia, AMD and Broadcom all falling on Wall Street as investors fled volatile technology shares for UK equities.

London's blue-chip index closed up 1.1% at 10,840.35 on Thursday, outperforming European and Wall Street rivals as investors dumped volatile technology stocks and sought shelter in the UK market. The FTSE 250 also rose 0.3%, while the CAC 40 and DAX 40 posted more modest gains of 0.8% and 0.3% respectively.

Research director Kathleen Brooks at XTB called the UK "the harbour in the storm" as the AI trade undergoes a "major shake out."

Chip giants Nvidia, AMD and Broadcom all fell on Wall Street, with AMD shedding 4.4%, as investors grew uneasy about debt-fuelled AI spending.

AJ Bell's Dan Coatsworth warned big tech names are "running too fast" and "primed to trip up" amid doubts over AI revenue growth.

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