# FTSE 100 snaps two-day losing streak on Sage results
Published: 2023-11-22
Category: Finance
Category URL: https://tradingherald.com/category/finance/
Meta Title: FTSE 100 rises on Sage results, gold prices boost miners
Meta Description: FTSE 100 rises on higher gold prices and Sage's profit surge. Gold miners and Sage lead gains; Johnson Matthey raises outlook. Market updates by Khushi ...
URL: https://tradingherald.com/ftse-100-snaps-two-day-losing-streak-on-sage-results/

![undefined](https://prod.superblogcdn.com/site_cuid_cm5qsox2m002hwirg5vexoy7l/images/2023-11-22t082652z1lynxmpejal08mrtroptp4britain-stocks-1737040487441-compressed.webp)

## FTSE 100 snaps two-day losing streak on Sage results

By Khushi Singh

(Reuters) -The UK’s FTSE 100 rose on Wednesday, as higher prices of gold spurred an uptick in precious metal miners, while [Sage](https://tradingherald.com/helton-tool-home-finds-the-right-tool-for-growth-with-brightpearl/) led gains in the benchmark index after the software firm’s profit jump.

The large-cap FTSE 100 was up 0.2% at 0907 GMT, snapping a two-day losing streak, while the mid-cap index climbed 0.3%.

Precious metal miners tracked a jump in gold prices and rose 0.4%. The bullion was lifted by a weaker dollar and a dip in U.S. bond yields amid expectations that the Federal Reserve was done hiking its interest rates.

Software company Sage reported an 18% rise in its full-year underlying operating profit, taking the shares up by 10.7% to an all-time high.

Shares of Johnson Matthey climbed 1.7% to the top of the FTSE 250 index after the autocatalyst maker raised its outlook for full-year underlying operating performance.

The broader chemicals index added 1% on the news.

Top decliner oil and gas shares fell 0.5%, as investors awaited news on output cuts from the OPEC+ producers group and looked for confirmation of a sharp build-up in U.S. crude stocks. \[O/R\]

Shares of Kingfisher slipped 6.4% after the home improvement retailer cut its annual [profit](https://tradingherald.com/electrolux-swings-to-operating-profit-in-q2/) forecast for the second time in three months, citing a weaker-than-expected retail market in France.

“We don’t think this troubled patch is down to a problem with Kingfisher itself. Market conditions are mostly to blame,” said Adam Vettese, analyst at eToro.

Meanwhile, shares of Intermediate Capital Group added nearly 1% as the asset manager is set to join the FTSE 100 index in December, replacing Hargreaves Lansdown, which is set to be demoted to the [mid-cap](https://tradingherald.com/eu-meets-to-try-to-break-gas-price-cap-impasse/) FTSE 250.

(Reporting by Khushi Singh in Bengaluru; Editing by Savio D’Souza and Sherry Jacob-Phillips)


---
This blog is powered by Superblog. Visit https://superblog.ai to know more.
---