The FTSE 100 experienced a strong surge, surpassing a new record high driven by significant gains in the banking and mining sectors. Positive earnings reports from HSBC and rising commodity prices fueled the upward momentum, while AI partnerships also contributed to the positive sentiment. However, weakness in Diageo and Haleon stocks partially offset these gains.
- FTSE 100 rose more than 0.5% to a record high above 10750.
- HSBC Holdings jumped 6% after reporting better-than-expected profit.
- Commodity-linked stocks advanced due to stronger copper and precious metal prices; Fresnillo, Antofagasta, Endeavour Mining, and Glencore all saw gains.
- Relx climbed 3.8% after its LexisNexis unit partnered with AI firm Anthropic.
- Diageo fell 6.5% after warning of weaker annual sales and cutting its dividend.
- Haleon is falling more than 3.5% after its sales growth fell short of estimates.
Overall, the index demonstrated resilience driven by specific sectors. The positive performance of banking and mining giants, alongside technological advancements, contributed to the new peak. However, investors should remain aware of potential risks indicated by the underperformance of certain companies within the index, showing the importance of diversification.