FTSE 100 hits all-time high as ‘anti-tech’ index shines in global chip rout

The FTSE 100 hit an intraday all-time high of 10,951 before easing to a 0.3% gain, as investors rotated toward the UK market’s heavy exposure to banks and energy and away from volatile US tech and semiconductor stocks. The rally was helped by higher oil prices, with Brent trading above $85 a barrel amid renewed Middle East tensions, supporting UK oil majors and lifting broader sentiment. Banks also outperformed on strong earnings and the impact of higher borrowing costs. The article frames the FTSE 100 as an “anti-tech” refuge in a global chip selloff, while the US Nasdaq 100 briefly fell into correction territory. Barclays and Ruffer commentary suggests the UK may continue to attract diversification flows if tech volatility persists and domestic economic conditions gradually improve.