The FTSE 100 experienced a significant surge, exceeding 1% to reach a new record high of 10,123. This performance was driven by widespread gains across multiple sectors, including miners, defence, and healthcare. Several companies contributed significantly to this upward trend, with positive news and upgraded forecasts fueling investor optimism.
- The FTSE 100 jumped more than 1% to reach a fresh record high of 10,123.
- Gains were broad-based, encompassing miners, defence, and healthcare stocks.
- Next shares surged 4.5% after upgrading its profit outlook to 738.8 pence per share after-tax.
- Next reported a more than 10% rise in December sales.
- Healthcare stocks rallied, with AstraZeneca climbing 5%, GSK gaining 4.1%, and Hikma Pharmaceuticals up 3.4%.
- GSK was boosted by the Japanese approval of its Exdensur drug.
- Commodity-related stocks contributed to the momentum as copper hit a record high and gold and silver extended gains.
- Defence shares advanced, with Babcock International rising 3.6%, Rolls-Royce up 1.2%, and BAE Systems gaining 1%.
This strong performance suggests a positive outlook for the FTSE 100. The gains across multiple sectors highlight a diversified strength within the index, making it less vulnerable to downturns in specific areas. Positive company-specific news, especially from major players like Next and GSK, indicates strong underlying fundamentals. Furthermore, the upward movement in commodity prices and defence stocks provides additional tailwinds, suggesting continued momentum for the index.