Some UK Sectors Gained Notably in the Past Month Despite the FTSE Falling

UK stocks and the Footsie have declined since peaking over a week ago, weighed further by softer GDP figures on Thursday. But some sectors have posted notable gains over the last month, leading traders to wonder whether there is more upside left.

Top Five Performing Sectors in the Last 30 Days

• Electronic Production Equipment +44.4%
• Speciality Telecommunications +30.4%
• Office Equipment +19.3%
• Precious Metals +18.5%
• Other Metals/Minerals +17.6%

Fuel Cells Lead Electronic Production Equipment Higher

Ceres Power gained more than 25% in the last month, but it's just the latest part of a 323% gain over the last six months. in recent weeks, after it reported record interim results. Those supporting further upside for the stock argue that the company is strategically positioned to take advantage of the surge in demand for power from AI-backed data centres. The bulk of the gains came after the end of September, when the company reported that its in the first half, despite a decline in revenue. However, the recent price performance has left other analysts worried, as the company remains unprofitable.

It’s Not Just Gold Supporting Precious Metals

Given the consistent gains in gold over the last couple of months, it's not surprising that companies dedicated to precious metals have seen their share price rise substantially. It's not just gold that is rising; safe-haven demand has driven an across-the-board increase in all precious metals, with the platinum group leading. One of the leading stocks in this sector is KEFI Gold and Copper, which has seen its share price rise by more than 250% since the start of the year. The company is developing gold and copper assets on either side of the Red Sea, with the Tullu Kapi mine in Ethiopia expected to hold over a million ounces and the Jibal Qutman copper-gold-silver project in Saudi Arabia. Unsurprisingly, the company's share price began its upward trajectory when the US reached an agreement with Houthi rebels in Yemen to improve security for Red Sea shipping and has continued to gain upside as the war in Gaza appears to be winding down. KEFI updated investors with its interim results on September 30, i project starting this month.

Lithium Driving Minerals Producers Higher

Small mining companies appear to be in vogue, with the Other Metals/Minerals sector rounding out the top five. A combination of a resurgence in interest in rare-earth mining outside China due to geopolitical factors and a spike in lithium prices late in September has given miners in this sector a boost. Cornish Metals stands out as one of the few UK lithium firms and has seen its shares rise over 19% in the last month. after raising £57.4 million in funding earlier in the year. In the announcement, the company disclosed it was starting to dig at its South Crofty project to start producing tin in the near future.

Footsie Eyes H&S Neckline Support?

The UK’s premier index is on a free-fall, pointing to lower levels, with 9120 in focus as a potential head–head-and-shoulder neckline. The 9250 swing support lies ahead as a short-term level, followed by the 9200 measured move projection of the 9620-9400 leg. However, if bulls hold their footing, prices could reclaim 9400 and accelerate towards 9530 and the record peak.

Source: SpreadEx | UK 100