04.02.202608:33:30UTC+00FTSE 100 Rises Toward Record High

On Wednesday, the FTSE 100 index experienced an upward movement of over 0.5%, reaching a new all-time high at more than 10,380 points. This increase comes in the wake of a 0.3% dip in the prior trading session. The surge was primarily fueled by gains within the energy and mining sectors. Leading the ascent, oil giants Shell and BP saw their stocks rise between 2% and 2.3% in response to a second consecutive increase in crude oil prices, heightened by escalating geopolitical tensions between the United States and Iran. Moreover, mining stocks benefitted as gold and silver prices continued to recover, resulting in a notable 2.5% uptick for Fresnillo and a 1.7% gain for Endeavour. Meanwhile, Rio Tinto's shares climbed by 1%, Glencore's by 1.4%, and Anglo American's by 1.1%. However, Antofagasta's progress was restrained due to stagnant to slightly declining copper prices. Conversely, equities perceived as susceptible to disturbances from artificial intelligence technologies persisted in their downward trend. Relx dropped by 2%, the London Stock Exchange Group fell by 1.4%, and WPP decreased by 2.2%, extending their losses from the previous day as investors reevaluated the challenges posed to their business models.