London close: FTSE ends up as CoreWeave earnings boost sentiment
11th Nov 2026 16:03
(Sharecast News) - London stocks rose on Wednesday as solid earnings from CoreWeave lifted the mood.
The FTSE 100 closed up 0.8% at 10,835.47, while oil prices rose again, with Brent crude up 2.4% at $93.69 a barrel and West Texas Intermediate 2.1% higher at $87.85, after Iran's security chief said Tehran would not allow any enriched nuclear material to leave the country.
Danni Hewson, head of financial analysis at AJ Bell, said: "After a short interruption following higher US inflation figures, the AI trade was back to full steam ahead.
"Sentiment has been helped by better-than-expected earnings from cloud infrastructure provider CoreWeave. Chief executive Mike Intrator suggested the US midterm election results won't have a damaging impact on the business and the wider AI roll-out - the argument being that if you are looking to build AI infrastructure responsibly then you have nothing to fear from greater regulatory oversight.
"This messaging helped Wall Street get off to a strong start at the open, further repairing the damage from last week's sell-off.
"Investors seem pulled in two directions: one suggesting the AI story has got ahead of itself and another suggesting the volatility seen in recent weeks and months might create opportunities. For now, the latter narrative appears to be holding sway.
"Brent crude oil jumped 3% to $94.20 per barrel as the market weighed potential obstacles to diplomatic progress between the US and Iran.
"This boosted the big oil and gas companies on the FTSE 100, and their weighting helped support decent gains for the UK index. Defence stocks weakened as investors worried about the implications of the latest political and geopolitical developments on spending."
In equity markets, BP and Shell rose in tandem with oil prices, while miners Antofagasta and Anglo American advanced as copper prices pushed higher.
Spirax Group rallied as it expressed confidence in achieving its full-year guidance and said group organic sales growth and adjusted operating profit margin for the 10 months to the end of October were in line with expectations and ahead of the first half.
Asos surged after Investec upgraded the online fashion retailer 'buy' from 'hold' and hiked the price target to 560p from 500p, saying it's now "a more investable story".
On the downside, housebuilder Taylor Wimpey slid as it flagged FY26 adjusted operating profit towards the bottom end of consensus after a softer autumn selling season and higher interest rates reducing mortgage affordability. Analysts are forecasting earnings of £262m-£299m, according to a company compiled consensus.
ITV slumped. The broadcaster said it has identified another £30m of additional temporary savings in the media and entertainment division as it cautioned that advertising revenue could fall up to 10% in the fourth quarter.
ITV said group revenue dipped 1% in the nine months to September end, with advertising revenue down 1%, outperforming the company's competitors but slightly below previous guidance due to macroeconomic uncertainty. For the third quarter, total advertising revenue fell 8%.
ITV warned that total advertising revenue for its television and streaming business would fall between 5% and 10% in the fourth quarter and be down around 2% to 3% for the full year.
Market Movers
FTSE 100 (UKX) 10,835.47 0.78%
FTSE 250 (MCX) 24,925.04 0.72%
techMARK (TASX) 6,251.38 0.73%
FTSE 100 - Risers
Computacenter (CCC) 4,928.00p 4.67%
Spirax Group (SPX) 7,620.00p 3.60%
Halma (HLMA) 3,564.00p 2.71%
BP (BP.) 567.00p 2.68%
Informa (INF) 881.80p 2.65%
London Stock Exchange Group (LSEG) 9,638.00p 2.60%
IG Group Holdings (IGG) 967.50p 2.49%
Smiths Group (SMIN) 2,709.00p 2.38%
Antofagasta (ANTO) 3,309.00p 2.32%
Anglo American (AAL) 3,904.00p 2.25%
FTSE 100 - Fallers
Ithaca Energy (ITH) 255.80p -3.06%
JD Sports Fashion (JD.) 94.66p -2.91%
Babcock International Group (BAB) 1,040.00p -2.07%
GSK (GSK) 1,887.00p -1.56%
Associated British Foods (ABF) 1,984.00p -1.24%
Kingfisher (KGF) 369.90p -1.12%
Diageo (DGE) 1,876.00p -1.03%
Sainsbury (J) (SBRY) 348.70p -0.99%
Rentokil Initial (RTO) 351.20p -0.90%
Burberry Group (BRBY) 1,093.00p -0.82%
FTSE 250 - Risers
ASOS (ASC) 466.00p 6.88%
Watches of Switzerland Group (WOSG) 795.00p 5.79%
Volex (VLX) 567.00p 5.19%
EnQuest (ENQ) 27.10p 4.84%
XP Power Ltd. (DI) (XPP) 1,700.00p 4.55%
Fidelity Emerging Markets Limited Ptg NPV (FEML) 1,272.00p 4.43%
Allianz Technology Trust (ATT) 658.00p 4.28%
Ceres Power Holdings (CWR) 275.20p 4.16%
Pacific Horizon Inv Trust (PHI) 989.00p 4.11%
Polar Capital Technology Trust (PCT) 590.00p 3.96%
FTSE 250 - Fallers
Chemring Group (CHG) 526.00p -4.71%
Taylor Wimpey (TW.) 78.70p -4.49%
ITV (ITV) 64.45p -3.52%
Coats Group (COA) 76.60p -3.34%
Vistry Group (VTY) 246.00p -3.23%
THG (THG) 38.30p -2.79%
QinetiQ Group (QQ.) 523.00p -2.24%
Persimmon (PSN) 1,252.50p -2.22%
Travis Perkins (TPK) 634.00p -2.16%
Berkeley Group Holdings (The) (BKG) 3,560.00p -2.09%