FX.co ★ FTSE 100 Rises to New Record High

The FTSE 100 climbed over 0.5% to reach a new all-time high on Tuesday, buoyed by robust corporate earnings and a positive shift in sentiment towards the UK economy. Shares of AstraZeneca rose 3.5% following the release of strong second-quarter results, primarily driven by increased sales of cancer treatments and a reaffirmation of their financial guidance. Barclays experienced a 2.5% increase in share price, despite delivering a mixed report, as its investment banking sector outperformed, consistent with peers benefiting from market volatility related to trade. Meanwhile, Greggs announced a 7% increase in first-half revenue, successfully navigating through decreased footfall caused by the hot weather. Further enhancing the positive outlook, the International Monetary Fund (IMF) predicted that the UK's economic growth would outpace that of other major European economies both this year and next. In the housing sector, Zoopla data revealed a rise in demand during July, while mortgage approvals in June slightly surpassed expectations, indicating resilience in the UK property market.