10.11.202516:36:36UTC+00FTSE 100 Rises to New Record

On Monday, the FTSE 100 experienced a significant rise, surpassing 1% to approach a remarkable high near 9,800. This surge was fueled by a global market rebound, alleviating concerns over a potential shutdown of the US government. Notable contributors to this upward movement included HSBC and AstraZeneca, both gaining 1.7%, along with Rolls-Royce climbing 2.5%, BP increasing by 1.3%, and both Shell and British American Tobacco rising by 0.9%. Precious metals saw gains amid expectations of possible interest rate cuts by the Federal Reserve, benefiting mining companies like Fresnillo, which jumped 6%, and Endeavour, which increased by 4%. Diageo surged nearly 6% following the appointment of former Tesco CEO Dave Lewis, a move that may signify a significant cultural transformation. Meanwhile, SSE advanced more than 4% as it considers various funding strategies to enhance its grid and renewable energy investments, which may include a share sale or other financing avenues.