FTSE 100: Index Rallies as Markets React to Nvidia Earnings; GAW and HLMA Surge

The FTSE 100 rose 0.8% early on Thursday as European equities strengthened following upbeat technology earnings from the United States.

Germany’s DAX advanced 1%, while France’s CAC 40 gained 1.2%, reflecting a broad improvement in market sentiment.

A key driver of the rally was Nvidia’s latest quarterly update. The chipmaker reported revenues of $57 billion, surpassing Wall Street’s $55.2 billion estimate, while net income jumped 65% from a year earlier to $31.9 billion.

Nvidia also projected revenue of about $65 billion for the current quarter, ahead of the $61.9 billion forecast. The strong figures helped lift broader equity markets.

In the FTSE 100, Games Workshop was a major outperformer, climbing more than 10% after the Warhammer maker said it expected core revenues of at least £310 million for the six months to 30 November.

The company’s latest forecast boosted confidence in its trading momentum.

Halma also surged, rising more than 11% after issuing upgraded full-year guidance. Polar Capital Technology gained 3.4%, making it another notable riser in early trading.

Not all updates were positive. JD Sports Fashion said annual profits were likely to land toward the lower end of expectations, weighing on sentiment for the retail sector.

Among the session’s biggest fallers were Fresnillo, down 1.5%, LondonMetric Property, off 1.3%, and Vodafone, also down 1.3%.

Despite the laggards, the overall tone across markets remained firmly positive as investors responded to stronger-than-expected Nvidia earnings.