FX.co ★ FTSE 100 Hits Fresh Record

The FTSE 100 experienced a significant surge of over 1% on Tuesday, reaching a new record high of 10,123 points. This impressive rise was driven by comprehensive gains across sectors such as mining, defense, and healthcare. Among the top performers was the retailer Next, which saw a remarkable 4.5% increase following an upward revision of its profit forecast. Next now anticipates after-tax earnings of 738.8 pence per share, surpassing market expectations, having reported an over 10% increase in sales for December. The healthcare sector also saw notable gains, with AstraZeneca rising by 5%, GSK up by 4.1%, and Hikma Pharmaceuticals increasing by 3.4%. GSK benefitted particularly from the approval of its Exdensur drug in Japan, intended for the treatment of severe asthma and rhinosinusitis. Stocks linked to commodities provided additional momentum, driven by record-high copper prices as well as ongoing gains in gold and silver. The defense sector flourished too, with Babcock International ascending by 3.6%, Rolls-Royce by 1.2%, and BAE Systems by 1%.