FTSE 100 Rises as Corporate Earnings Boost UK Stocks

The FTSE 100 index rose for a third consecutive session on Thursday, reaching 10,944.75. Market gains were fueled by positive corporate earnings reports and investor optimism surrounding U.S.-Iran talks and the potential reopening of the Strait of Hormuz.

WPP plc saw its shares surge 25% after reporting first-half profits and margins that exceeded expectations. Diageo plc shares rose 7.5% following the announcement of a three-year cost-saving plan intended to save $1 billion. Serco Group plc also experienced gains of nearly 7% after reporting higher underlying profit and expanding its share buyback program.

Some companies faced declines, with Wizz Air Holdings plc shares falling 4.3% after the airline reported a quarterly net loss larger than expected. In broader economic news, S&P Global Inc. reported that the UK Construction PMI rose to 44.7 in July, up from 38.4 in June.