29.10.202516:46:24UTC+00FTSE 100 Hits Fresh Record

On Wednesday, the FTSE 100 experienced a 0.6% increase, reaching a new record high exceeding 9750. This rise marks the index's eighth consecutive session of gains, fueled by advances in mining stocks and positive corporate reports. Retailer Next saw its shares soar by over 8% following another upward revision of its business outlook, maintaining its history of regular guidance enhancements. Similarly, GSK's stock rose by more than 6% thanks to an unexpectedly strong performance in its third-quarter profit and revenue, which led to an upward revision in its full-year projections for earnings, turnover, and operating profit. The company now anticipates a core earnings per share (EPS) increase of 10–12%, a boost from the previous expectation of 6–8%. Concurrently, copper mining companies benefited from optimism regarding potential alleviation of US-China trade tensions and a tightening global supply. Anticipation surrounds the upcoming meeting between President Trump and President Xi at the APEC summit, where trade progress is anticipated. Companies like Antofagasta, Anglo American, and Rio Tinto all experienced gains of over 2%, while Glencore's shares surged more than 6% following a reaffirmation of its 2025 production targets and robust performance in metals trading.