The FTSE 100 surged to a new record high on Wednesday, lifted by investor relief over signs of progress in global trade talks. Optimism surrounding reduced trade tensions helped extend gains from the index’s recent record closes.
Britain’s main stock index surged to a new intraday record on Wednesday, lifted by relief over the US-Japan trade agreement.
The FTSE 100 opened nearly 0.5% higher, climbing 44 points to 9,068 – a new all-time high.
Stocks with exposure to global trade, including pharmaceuticals firms AstraZeneca (+1.7%) and GSK (+1.5%), along with drinks giant Diageo (+1.6%), were among the top performers.
The rally comes just a week after the index broke through the 9,000-point barrier for the first time. The FTSE 100 is now up over 10% year-to-date, outperforming major US indices.
Multiple factors have fuelled the momentum, including investor rotation away from Wall Street, increased interest in UK financials and commodity-linked sectors, and a surge in defence spending, which has boosted shares in defence-related firms.
