The FTSE 100 climbed more than 1% to a new record high above 10,800 on Tuesday, driven by strong gains in banking and mining stocks. HSBC Holdings surged 7.6% to an all-time high after posting better-than-expected profits, with its wealth division boosted by robust client income, sparking a broad rally in financials. Commodity-linked shares also advanced as copper and precious metal prices strengthened. Fresnillo rose 7%, Antofagasta gained 6%, and Endeavour Mining and Glencore each added around 3%.
Relx advanced 6.3% after its LexisNexis unit announced a partnership with AI firm Anthropic, easing earlier market concerns around its strategy and growth outlook. In contrast, Diageo slumped 13% after warning of weaker full-year sales and cutting its dividend to protect its balance sheet. Haleon fell 7% as its sales growth came in below analyst expectations.
