FTSE 100 hits record high as banks, gold miners rally
The UK's FTSE 100 index hit a new intraday record of 9,536.39 on Wednesday, thanks to strong gains from banks and gold mining companies.
Lloyds Banking Group led the way, jumping 2.6% after regulators suggested a lighter penalty for motor finance mis-selling.
Factors behind the surge
Big moves like this show how quickly markets can shift when sectors get a boost—here, it was banks rebounding on good news and gold miners riding a historic surge in gold prices.
Barclays and HSBC also climbed, with HSBC rising after a positive analyst call, while record gold prices above $4,000 per ounce pushed mining stocks higher.
Meanwhile, the UK's push to implement a trade deal with India and a recovering healthcare sector kept the market's momentum going, even as some companies like Unite Group faced setbacks.
What does this mean for investors?
It's a mix of sector-specific wins: regulatory relief for banks, gold hitting new highs amid global uncertainty, and optimism around UK trade talks.
The takeaway? Even in choppy global waters, focused good news can send certain stocks—and the whole market—upward.