FTSE 100 Hits Record High as Energy and Corporate Earnings Drive Gains
The FTSE 100 index has broken through its previous record, hitting a new all-time intraday high of 9,579 points, surpassing the earlier peak set two weeks ago.
London’s blue-chip benchmark has been propelled higher by strong gains in oil majors BP and Shell, both up around 3.5%, as new US sanctions on Russia’s Rosneft and Lukoil sent crude prices climbing.
The day’s top performer was Rentokil Initial (+11.9%), after the pest control group reported improving trading conditions in its US pest control division, reassuring investors after a period of slower growth.
The London Stock Exchange Group also posted a strong rise of 6.8%, following news of robust earnings, a bank consortium investment in its Post Trade Services division, and the launch of a £1 billion share buyback programme.
Fiona Cincotta, senior market analyst at City Index, said the rally reflects both sector strength and improving sentiment:
“The FTSE is rising for a fourth straight session on Thursday, edging towards record highs, boosted by strength in energy stocks and upbeat earnings.”
So far this year, the FTSE 100 has gained 17%, as global equity markets continue to benefit from resilient corporate results, stabilising inflation, and a shift in investor confidence toward cyclical and income-generating stocks.
