Top stocks driving the FTSE 100 and FTSE 250 indices higher

The FTSE 100 and FTSE 250 indices have held steady in the past few days, even as the UK published the latest jobs, retail sales, and inflation numbers. The Footsie rose slightly to 10,748 on Friday, up slightly from this week’s low of 10,640 points. 

Similarly, the FTSE 250 Index has jumped to 24,508, up by nearly 4% in the last month. This article looks at some of the top companies driving the two indices higher recently. 

Sage Group shares have rebounded as SaaSpocalypse fears ease

Sage Group stock has been in a strong bull run in the past few weeks. It has soared by over 40% from the year-to-date low and is at its highest level since July this year. It formed a large double-bottom pattern and is about to form a golden cross, which normally leads to further gains over time. 

Sage Group’s stock has jumped after its earnings report showed that its revenue jumped by 15% in the third quarter to £1.7 billion. Most of this revenue came from the United States, followed by Europe and the international markets. 

These results and the accompanying guidance demonstrated that the company’s growth was going on despite the potential disruption in the AI space.

Fresnillo stock jumps as silver prices rebound

FRES stock has jumped by 25% in the last month and is now trading at the highest level since June 17. It has soared after silver staged a strong comeback after moving into a bear market a few months ago. Silver jumped to $68 after forming a double-bottom pattern at $54.95. 

Fresnillo is one of the biggest silver producers in the world, producing 22 Moz of silver in the first half of the year. It also mined 290.9 Koz of gold in the same period.

The most recent numbers showed that its revenue jumped by 74% in the first half of the year to $3.38 billion, with its gross profit soaring by 130% to $2.35 billion. Its profit for the period was $1.4 billion.

The hope is that silver prices will bounce back further in the coming months. However, the risk is that the Fed may decide to hike rates this year as inflation concerns persist.

WPP is soaring as turnaround takes shape

WPP stock has jumped by over 77% from the year-to-date low and is now hovering near its highest point since September last year. The company, one of the top advertising agencies in the world, rose after its recent results showed that its business was improving.

The most recent results showed that its revenue dropped by 5.6% in the first half of the year to £4.7 billion. Its operating profit dropped to £398 million from £412 million a year earlier. Still, despite this weakness, its operating profit margin rose to 8.4%. It has had several major clients this year, such as L’Oréal, Henkel, Tesco, and Honda.

Some of the other top FTSE 100 and FTSE 250 gainers in the last 30 days including popular names like Anglo American, Persimmon, AstraZeneca, Croda International, and London Stock Exchange. All these ones have jumped by over 14% in the last 30 days. In the FTSE 250 side, other top gainers were firms like Kainos Group, Oxford Nanopore, Pan African Resources, and Harworth Group.