Britain’s FTSE 100 closed at a record high on Wednesday, lifted by strong gains in financial and mining stocks as gold prices surged to new peaks.
The blue-chip index rose 0.7% to 9,548.87, while the FTSE 250 added 0.2%.
Banking shares led the advance, with the sector up 1.9%. Lloyds Banking Group jumped 3.7% after regulators proposed a smaller-than-expected compensation package for car finance mis-selling. The upbeat sentiment also boosted Barclays (+1.1%) and HSBC (+1.5%), the latter supported by a Morgan Stanley price target upgrade, while Close Brothers surged 5.4%.
Silver Hits New Record High as Precious Metals Rally Continues
Precious metal miners rallied as gold broke above $4,000 per ounce, with Endeavour Mining rising 2.7% and Fresnillo up 3%. Industrial miners gained 1.7%, tracking higher copper prices.
However, real estate stocks lagged, sliding 1.9% to become the weakest-performing sector of the day.
Silver jumped 4% on Wednesday to reach a record high of $49.55 per ounce, following gold’s own record-breaking surge as demand for precious metals continued to climb.
